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adjustable-rate mortgage (ARM)

MBA survey finds app volume drops 1.9 percent from previous week

Housing Rates Drop Pic

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending March 12, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1.7 percent compared with the previous week.Read more

Rates average 4.95 percent last week in latest Freddie mac survey

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.03 percent. The 15-year FRM this week averaged 4.32 percent with an average 0.7 point, down from last week when it averaged 4.33 percent.Read more

Purchase apps on the rise in MBA Weekly Survey

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The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 0.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.2 percent compared with the previous week.Read more

Freddie Mac PMMS finds rates just below five percent for the week

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010, down from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 5.15 percent. The 15-year FRM this week averaged 4.33 percent with an average 0.7 point, down from last week when it averaged 4.40 percent. A year ago at this time, the 15-year FRM averaged 4.72 percent.Read more

Refi apps increase in latest MBA survey

Homes For Sale

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Feb. 26, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 14.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 15.5 percent compared with the previous week.Read more

Trend Spotter: Are interest-only ARMs dead?

Tombstone Pic Credit © Getty Images Ablestock.com

I’m sure you’ve heard that incredulous gasp or moment of silence on the other end of the phone when you tell someone that they might benefit by considering an interest-only adjustable-rate mortgage (ARM). It’s as if the very mention of an interest-only ARM places you in a category of being, “One of THOSE”—a big bad mortgage broker who singlehandedly caused the whole housing, financial and economic crisis.

So, I have two questions for you:Read more

Freddie Mac PMMS finds rates inch over five percent

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.05 percent with an average 0.7 point for the week ending February 25, 2010, up from last week when it averaged 4.93 percent. Last year at this time, the 30-year FRM averaged 5.07 percent. The 15-year FRM this week averaged 4.40 percent with an average 0.7 point, up from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.68 percent.Read more

MBA survey finds apps dip 7.3 percent from previous week

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The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Feb. 19, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7.3 percent compared with the previous week.Read more

Freddie Mac survey finds rates dip to near-record lows for the week

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Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending February 18, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.04 percent.Read more

MBA reports: Loan volume drops 2.1 percent from previous week

Housing Rates Drop Pic

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Feb. 12, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.5 percent compared with the previous week.Read more