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Fifteen-year mortgages, a popular option for refinancing, dipped to 6.44percentt, compared with 6.47percentthehe previous week.
Fifteen-year mortgages, a popular option for refinancing, dipped to 6.17percentthis weekek, down slightly from 6.18percentthehe week before.
The average interest rate on 15-year mortgages, a popular option for refinancing, dipped to 6percentthis weekek, down from 6.03percentthehe week before.
The average interest rate on 15-year mortgages, a popular option for refinancing, dipped to 5.69percentthis weekek, the lowest level since Freddie Mac began tracking the rates in August 1991.
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Although applications for mortgages were up, refinancing demand dipped to more than a one-year low due to rising interest rates.
The average on the 15-year fixed mortgage, a popular refinancing option, dipped to 2.69 percent, down from last week's record low of 2.73 percent.
THE traditional fixed-rate mortgage is the overwhelming choice for people buying or refinancing homes, and for good reason: The composite average of 15- and 30-year conventional loans dipped to 10.11 percent last week, and some aggressive lenders dropped 30-year rates to 9.5percentthe the lowest in eight years.
Rates for 30-year mortgages dipped to a new low this week, providing even more fuel for the mortgage refinancing boom.
On Friday, JPMorgan and Wells Fargo reported dips in mortgage banking revenue, also undercut by a slowdown in mortgage refinancing.
Another theory was that easier access to credit, such as through "cash-out" refinancing of mortgages, had made it easier for consumers to keep spending even when their incomes dipped.
M&A and Refinancing.
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