Rates Fall 11 BPS, Applications Rally
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Rates Fall 11 BPS, Applications Rally

ByTMN Editor Reading Time: 2 minutes

Mortgage applications rallied last week as a slowing jobs market and positive indications from the Central Bank led to rates plummeting.  The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — rose by 2.6%, reversing last week’s 2.3% dip. Adjusted purchase applications increased…

Rates Remain Effectively Unchanged At 6.62%

Rates Remain Effectively Unchanged At 6.62%

ByTMN Editor Reading Time: 2 minutes

Mortgage rates remained basically unchanged last week as markets adjust to economic expectations for 2024. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.62%, inching up from the week prior’s 6.61%. A year ago at this time, the 30-year FRM averaged 6.48%. This is the first increase since October. Rates have…

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