Mortgage applications soar as refinances surge on a big rate drop – Fasti News

Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. Consumers saw an opportunity last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications surged 26.8% in just one week, according to the Mortgage Bankers.

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Columbia Banking System Inc (NASDAQ:COLB) EVP Sells $122,043.86 in Stock WSJ: More buyers are using down payment assistance programs Mortgage Rates Reach 16-Month Low 2 Things You Need to Know to Properly Price Your home world news story: long-term mortgage rates fall as 30-Year Average Hits 3.82% US long-term mortgage rates fall; 30-year average at 3.82%. – WASHINGTON – U.S. long-term mortgage rates fell for the sixth consecutive week, with the key 30-year loan average running below 4% and at its lowest point since September 2017. · It’s more affordable to buy a house today as mortgage rates have dropped to a 16-month low. According to Freddie Mac, the 30-year fixed rate mortgage declined to 3.99%, and 3.46% for a fifteen-year fixed rate, both with an average half a point. This is the first time rates have dropped below 4% since January 2018.World News Story: Long-Term Mortgage Rates Fall as 30-Year Average Hits 3.82% US long term mortgage rates fall; 30 year average at 3.82%. – Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage dipped to 3.82% from 3.99% last week. By contrast, a year ago the benchmark rate stood at 4.54%. The average rate for 15-year, fixed-rate home loans declined this week to 3.28% from 3.46%.The NJHMFA Down Payment assistance program (dpa) provides $10,000 for qualified first-time homebuyers to use as down payment and closing cost assistance when purchasing a home in New Jersey. The DPA is an interest-free, five-year forgivable second loan with no monthly payment. To participate in this program, the DPA must be paired with an NJHMFA first mortgage loan.Columbia Banking System Inc (NASDAQ:COLB) EVP andy mcdonald sold 3,481 shares of Columbia banking system stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $35.06, for a total transaction of $122,043.86.

Mortgage applications soar as refinances surge on a big rate drop. Consumers saw an opportunity last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications surged 26.8% in just one week, according to the Mortgage Bankers Association’s seasonally adjusted index.

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Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.

Weekly mortgage applications soar nearly 27% on a big rate drop June 12, 2019 admin Real Estate Comments Off on Weekly mortgage applications soar nearly 27% on a big rate drop A real estate agent shows a home to a prospective buyer in Miami.

Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.

News & Updates. From real estate industry and beyond. june 21, 2019 In Homes. Mortgage applications soar as refinances surge on a big rate drop. Consumers saw an opportunity last week and took it – in a big way.. Weekly mortgage applications fall as rates rise, volume remains much higher.

Mortgage applications to purchase a home, which hadn’t gained much traction on falling rates, finally jumped 10% weekly and annually. Buyers don’t usually react immediately to weekly rate drops, but since rates have been falling for a few weeks now, it may have pushed more potential buyers off the fence.