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,

Average HELOC and Home Equity Loan Rates for Week of June 29, 2022

Average HELOC and Home Equity Loan Rates for Week of June 29, 2022

Editorial Independence We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. After a dramatic month of rate movement and economic news, home

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

Here are mortgage rates for Sept. 9, 2021: Rates inch up

Here are mortgage rates for Sept. 9, 2021: Rates inch up

Jim Lane/Getty Images Today, a few major mortgage rates rose. Average rates for 15-year fixed mortgages remained untouched, while rates for 30-year fixed mortgages increased. The average rate of the most common variable-rate mortgage, the 5/1 adjustable-rate mortgage, also increased. Mortgage interest rates are never set in stone, but lately interest rates have been at

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