Mortgage applications drop for second consecutive week

Mortgage applications in the U.S. increased for the second consecutive week as a drop in borrowing costs encouraged refinancing. The Mortgage Bankers Association’s index of loan applications rose 2.2.

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The 30-year fixed-rate mortgage (FRM) on the Zillow Mortgage Marketplace is currently at 4.20 percent, down five basis points from this time last week. The 30-year FRM peaked on Wednesday at 4.28.

A Resource For Home Buyers.. Mortgage rates drop for third consecutive week. October 3, 2013. In the face of a government shutdown, the effect on mortgage rates seems to have been small, as rates have dropped again for the third consecutive week.

According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 23, 2012, mortgage applications decreased 2.7 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7 percent on a seasonally adjusted basis from one week earlier.

Mortgage rates fell for the second straight week for the week ending April 5, according to the Primary Mortgage Market Survey released by Freddie Mac.

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February was the worst month for weekly changes in mortgage applications since Mid-2013 during the taper tantrum regarding the Fed rate policy. Ever since January mortgage applications have been on the downtrend. The 8 week average weekly change is -4.08%, while the 4 week average change is just -2.15%.

Home resales drop for second consecutive month.. Friday’s report follows news this week that sales of newly built homes hit a record low in January and that mortgage applications plunged to.

Mortgage application volume decreased for fourth consecutive week, falling 4.3% despite a drop in the average rate for a 30-year fixed rate mortgage to 4.42% from 4.46%, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. For the week ended April 26, applications for.

Mortgage Apps Drop Again, Jumbo-Conf Spread Doubles For the second consecutive week, fewer applications were completed for home loans. As long-term mortgage rates climbed to a seven-year high, the jumbo-conforming spread doubled.

When it comes time to make your second monthly mortgage payment, interest is calculated on the new, lower balance. The payment would remain the same, but $541.18 would go toward interest and $90.89 would go to principal.