The Refinance Index decreased 4 percent from the previous week. The refinance share of mortgage activity decreased to 50.8 percent of total applicat
The Refinance Index decreased 4 percent from the previous week.
The refinance share of mortgage activity decreased to 50.8 percent of total applications from 52.1 percent the previous week. 7 year Adjustable Rate Mortgages are listed at 3.125% today and an April of 3.915%.
The average mortgage rates on 30-year fixed-rate conforming loans for balances of $424,100 or less have jumped to 4.11% from 4.04%, while average mortgage rates for 30-year fixed-rate loans for balances over $424,100 have increased from 4.06%, from 3.99%.
Mortgage rates for shorter maturities have also witnessed an increase. “The 10-year Treasury yield fell just one basis point, while the 30-year mortgage rate remained unchanged at 3.83 percent”. The 7 year Adjustable Rate Mortgages are listed at 3.75% with a starting April of 3.967%.
The average contract interest rate for 15-year fixed-rate mortgages increased to 3.38 percent from 3.35 percent, with points decreasing to 0.40 from 0.44 (including the origination fee) for 80 percent LTV loans.
5/1 ARM interest rates have been published at 3.250% at Chase Bank with a starting April of 3.605% which will change as interest rates adjust.