Mortgage Apps Reverse Course, Fall For First Time In A Month

Mortgage Apps Reverse Course, Fall For First Time In A Month

ByTMN Editor Reading Time: 2 minutes

Mortgage applications reversed after a month of increases despite declining rates, a rocky start to the typically robust spring buying season. The Mortgage Bankers Association’s weekly survey says the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 4.1%. Adjusted purchase applications dropped by 4%, while the unadjusted index…

Rates Fall To 5.13%

Rates Fall To 5.13%

ByTMN Editor Reading Time: 2 minutes

Mortgage rates dropped to an average 5.13% last week from 5.22% the week prior, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey (PMMS) found that the 30-year fixed-rate mortgage (FRM) averaged 5.13%, following a rollercoaster couple of weeks that saw both a 30-point rate decrease and a 20-point increase. A year ago at this time,…

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