Posted on: 19th Jul, 2007 08:21 am
Where is the mortgage industry compared percentage wise to this time last year.
Hi Jslaney,
The market has rolled back a part of the increase in mortgage rates that have been registered over the past 5 weeks.
The 30 year fixed rate loans which increased from 6.15% to 6.74% between May 10 and June 14 rolled back to 6.69% recently. The fees and points on these loans increased approximately from 0.4 to 0.5.
Just as 30 year loan, 15 year fixed rate mortgage rates have been reduced by 6 basis points from 6.43% rate of interest. The points and fees however increased from 0.4 to 0.5 for this kind of loan.
The biggest change was observed in the roll back of the 1 year Treasury-indexed ARM which decreased to 5.66% from 5.75% approximately.
Hope this helps..
God bless you.
Samantha
The market has rolled back a part of the increase in mortgage rates that have been registered over the past 5 weeks.
The 30 year fixed rate loans which increased from 6.15% to 6.74% between May 10 and June 14 rolled back to 6.69% recently. The fees and points on these loans increased approximately from 0.4 to 0.5.
Just as 30 year loan, 15 year fixed rate mortgage rates have been reduced by 6 basis points from 6.43% rate of interest. The points and fees however increased from 0.4 to 0.5 for this kind of loan.
The biggest change was observed in the roll back of the 1 year Treasury-indexed ARM which decreased to 5.66% from 5.75% approximately.
Hope this helps..
God bless you.
Samantha
"Where is the mortgage industry compared percentage wise to this time last year."
I can tell you about the status of mortgage application activity, it has increased by 16.5% from what it was this time one year earlier.
I can tell you about the status of mortgage application activity, it has increased by 16.5% from what it was this time one year earlier.
