Rate-and-term refinances enjoyed a significant boost in February as rates moderated, though purchase demand remains depressed. Optimal Blue reported that mortgage lock volume increased by 7% on the month, driven by a refinance push. Rate-and-terms were up nearly 40% as homeowners jumped at the chance to lower their monthly payments with a lower interest rate….
Mortgage rates increased slightly last week, inching up after falling the week prior. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.81%, up from 6.78%. A year ago at this time, the 30-year FRM averaged 5.30%. The 15-year fixed-rate mortgage also increased, up to 6.11% from 6.06%. A year ago, it…
Mortgage rates declined last week, breaking a three-week streak of increases. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.71%, down from 6.79% the week prior. A year ago at this time, the 30-year FRM averaged 5.23%. The 15-year fixed-rate mortgage also fell from 6.18% to 6.07%. A year ago, it…
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