• About us
  • Privacy Policy
  • Contact us
Thursday, August 11, 2022
  • Login
Handshake 4u
Advertisement
  • Home
  • Politics
  • Agrotech
  • Business
  • E-paper
  • Economy
  • Education
  • Entertainment
  • States
    • Andhra Pradesh
    • Arunachal Pradesh
    • Bihar
    • Assam
    • Chhattisgarh
    • Goa
    • Gujarat
    • Haryana
    • Himachal Pradesh
    • Jharkhand
    • Karnataka
    • Kerala
    • Madhya Pradesh
    • Maharashtra
    • Manipur
    • Odisha
    • Nagaland
    • Meghalaya
    • Uttar Pradesh
    • Mizoram
    • Punjab
    • Uttarakhand
    • Rajasthan
    • Sikkim
    • Tamil Nadu
    • Telangana
    • Tripura
    • West Bengal
  • Health
  • Other
    • Kitchen
    • Lifestyle
    • Market
    • Opinion
    • Tech
    • Travel
    • World
No Result
View All Result
  • Home
  • Politics
  • Agrotech
  • Business
  • E-paper
  • Economy
  • Education
  • Entertainment
  • States
    • Andhra Pradesh
    • Arunachal Pradesh
    • Bihar
    • Assam
    • Chhattisgarh
    • Goa
    • Gujarat
    • Haryana
    • Himachal Pradesh
    • Jharkhand
    • Karnataka
    • Kerala
    • Madhya Pradesh
    • Maharashtra
    • Manipur
    • Odisha
    • Nagaland
    • Meghalaya
    • Uttar Pradesh
    • Mizoram
    • Punjab
    • Uttarakhand
    • Rajasthan
    • Sikkim
    • Tamil Nadu
    • Telangana
    • Tripura
    • West Bengal
  • Health
  • Other
    • Kitchen
    • Lifestyle
    • Market
    • Opinion
    • Tech
    • Travel
    • World
No Result
View All Result
Handshake 4u
No Result
View All Result
Home Uncategorized

Weekly mortgage demand drops over 6% after interest rates move even higher

Handshake 4u by Handshake 4u
November 5, 2021
in Uncategorized
0

Climbing mortgage interest rates caused another drop in mortgage demand for both refinances and home purchases. Total application volume fell 6.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) increased to 3.23% from 3.18%, with points decreasing to 0.35 from 0.37 (including the origination fee) for loans with a 20% down payment. That rate was 21 basis points lower the same week one year ago.

The 30-year fixed rate has risen 20 basis points over the past month and is now at the highest level since April.

A sign is posted in front of a home for sale on September 28, 2021 in San Anselmo, California.

Justin Sullivan | Getty Images

Applications to refinance a home loan, which are most sensitive to weekly rate changes, decreased 7% for the week and were 22% lower year over year. The refinance share of mortgage activity fell to 63.3% of total applications from 63.9% the previous week.

“Refinance applications declined for the fourth week as rates increased, bringing the refinance index to its lowest level since July 2021,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Mortgage applications to purchase a home dropped 5% for the week and were 12% lower year over year. Higher mortgage rates are now playing a larger role in the purchase market because home prices are so high. Various measures have prices nationally up 18% from a year ago for existing homes. For newly built homes, the median price in August was 20% higher than August 2020, according to the U.S. Census.

Mortgage rates continued their climb higher this week, and the expectation is they will rise more significantly into next year, as the Federal Reserve tapers its purchases of mortgage-backed bonds.

The MBA put out its 2022 forecast earlier this week, predicting a 33% drop in mortgage origination volume, and a 4% average rate on the 30-year. That will mean more competition for lenders in a shrinking business.

Source link

Previous Post

Defeat allows for necessary changes in India’s T20 culture

Next Post

One-bedroom rental for $1,000 per month in Bronx, New York

Handshake 4u

Handshake 4u

Next Post

One-bedroom rental for $1,000 per month in Bronx, New York

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Live Cricket Score

Corona Live Data

Recent News

सरस्वती कुंड और बिना पूंछ वाला चूहा।

November 26, 2021

शाम और ताप्ती तट..

November 17, 2021

Trump allies Michael Flynn, Jason Miller, John Eastman subpoenaed in Jan. 6 House probe

November 16, 2021

Thanks For Watching Game Informer, MinnMax, and Easy Allies’ Extra Life 2021 Charity Stream!

November 16, 2021

Today’s Weather

INDIA WEATHER

Rashifal

Handshake 4u

”I believe next generation will see another group of business tycoon , the era of Ambani will roll out from the market very soon in coming two -to-three years” – Amit Samrat.

Browse by Category

  • Andhra Pradesh
  • Business
  • Cinema
  • Culture
  • Economy
  • Education
  • Entertainment
  • Health
  • Kitchen
  • Lifestyle
  • Market
  • Odisha
  • Opinion
  • Politics
  • Punjab
  • Tech
  • Travel
  • Uncategorized
  • World

Recent News

सरस्वती कुंड और बिना पूंछ वाला चूहा।

November 26, 2021

शाम और ताप्ती तट..

November 17, 2021
  • About us
  • Privacy Policy
  • Contact us

© 2020 Handshake 4u | Designed byTraffic Tail.

No Result
View All Result
  • Home
  • Politics
  • Agrotech
  • Business
  • E-paper
  • Economy
  • Education
  • Entertainment
  • States
    • Andhra Pradesh
    • Arunachal Pradesh
    • Bihar
    • Assam
    • Chhattisgarh
    • Goa
    • Gujarat
    • Haryana
    • Himachal Pradesh
    • Jharkhand
    • Karnataka
    • Kerala
    • Madhya Pradesh
    • Maharashtra
    • Manipur
    • Odisha
    • Nagaland
    • Meghalaya
    • Uttar Pradesh
    • Mizoram
    • Punjab
    • Uttarakhand
    • Rajasthan
    • Sikkim
    • Tamil Nadu
    • Telangana
    • Tripura
    • West Bengal
  • Health
  • Other
    • Kitchen
    • Lifestyle
    • Market
    • Opinion
    • Tech
    • Travel
    • World

© 2020 Handshake 4u | Designed byTraffic Tail.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

WhatsApp us