Demand for adjustable-rate mortgages surges, as interest rates jump

Demand for adjustable-rate mortgages surges, as interest rates jump

Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were, however, 10% lower than they were in the same week one year ago. A big jump in mortgage rates may have

Mortgage Interest Rates Today for July 8, 2022: Rates Tick Up

Mortgage Interest Rates Today for July 8, 2022: Rates Tick Up

Some mortgage rates are higher today, including the fixed-rate for 30-year and 15-year mortgages. The average rate of the most common type of variable-rate mortgage, the 5/1 adjustable-rate mortgage, also inched up. Mortgage rates have been rather consistently going up since the start of this year, and are expected to climb throughout 2022. Of course,

Mortgage demand falls to lowest level since 2018, even as interest rates ease

Mortgage demand falls to lowest level since 2018, even as interest rates ease

A single family home is shown for sale in Encinitas, California. Mike Blake | Reuters Mortgage demand slipped to the lowest level since December 2018, even after rates declined slightly last week. Applications for a mortgage to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association’s

Mortgage demand slides further, even as interest rates pull back slightly

Mortgage demand slides further, even as interest rates pull back slightly

Mortgage rates turned lower for the second straight week, but it wasn’t enough to boost demand for either new purchase loans or refinances, according to a weekly report from the Mortgage Bankers Association. Rates are still much higher than they were for the past two years. Last week the average contract interest rate for 30-year

Mortgage interest rates today for Aug. 27, 2021: Rates push higher

Mortgage interest rates today for Aug. 27, 2021: Rates push higher

Jim Lane/Getty Images A few important mortgage rates moved higher today. The average interest rates for both 15-year fixed and 30-year fixed mortgages both climbed higher. For variable rates, the 5/1 adjustable-rate mortgage also notched up. Although mortgage rates are always changing, they’re lower than they’ve been in years. Because of this, right now is

Mortgage interest rates as of Aug. 13, 2021: Rates increase

Mortgage interest rates as of Aug. 13, 2021: Rates increase

Deborah Jaffe/Getty Images Several major mortgage rates increased today. Average interest rates for 15- and 30-year fixed mortgages both climbed higher, while rates for 5/1 adjustable-rate mortgages also rose. Although mortgage interest rates always fluctuate, they’re currently lower than they’ve been in years. If you’re looking for a mortgage, now might be the right time

Average mortgage interest rate freefalls to six-month low | July 20, 2021

Average mortgage interest rate freefalls to six-month low | July 20, 2021

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Check out the mortgage rates for

Current mortgage interest rates on June 1, 2021: Rates go up

Current mortgage interest rates on June 1, 2021: Rates go up

Jim Lane/Getty A variety of significant mortgage rates inched upward today. The average interest rates for both 15-year fixed and 30-year fixed mortgages both saw increases. We also saw an upward trend in the average rate of 5/1 adjustable-rate mortgages. Although mortgage rates are always moving, they are quite low right now. For those looking

Fragile Nigerian Recovery Means Interest Rate Could Stay on Hold

Fragile Nigerian Recovery Means Interest Rate Could Stay on Hold

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Nigeria’s central bank will likely keep its key interest rate unchanged on Tuesday after data showed the economy’s recovery remains weak. Gross domestic product in the continent’s biggest oil producer expanded 0.5% in the three months through March from a year earlier, the