Real Estate

Mortgage refinance demand hits lowest level in over a year


People wait to visit a house for sale in Garden City, Nassau County, New York, on Sept. 6, 2020.

Xinhua News Agency | Getty Images

It was a mixed week for rates, which started high and then fell slightly, but the damage was done early.

Total mortgage application volume decreased 3.7% for the 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) decreased to 3.27% from 3.36%, with points decreasing to 0.33 from 0.43 (including the origination fee) for loans with a 20% down payment.

“Purchase and refinance applications declined, with most of the…


Xpeng Motors launches P5 Lidar electric car to rival Tesla in China

Previous article

Wells Fargo (WFC) earnings Q1 2021

Next article

You may also like

Leave a Reply

Notify of

More in Real Estate