U.S. mortgage activity picks up as loan rates tumble: MBA

NEW YORK (Reuters) – U.S. mortgage applications edged up last week, led by a jump in requests for refinancing, as home borrowing costs fell to their lowest levels in nearly 17 months on worries about trade tensions, the Mortgage Bankers Association said on Wednesday.

Other mortgage rates MBA track fell on average by 8 basis points to 12 basis points from the prior week. cheaper borrowing costs revived interest to refinance among homeowners.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.27 percent from 4.25 percent, the first increase in four weeks,

Looking ahead, the combination of low mortgage rates, tight labor market, and higher consumer confidence should support the housing market. House price sales are expected to pick up through the summer.

 · NEW YORK (Reuters) – U.S. mortgage applications edged up last week, led by a jump in requests for refinancing, as home borrowing costs fell to their lowest levels in nearly 17 months on worries.

Join us for national mortgage professional magazine’s complimentary webinar "Offering Home Equity Loans as Part of Your. Fed will cut the fed funds rate by 25bps at the July 31 meeting and another.

NEW YORK (Reuters) – U.S. mortgage applications rose last week, led by an increase in refinancing activity, as home borrowing costs broadly fell, Mortgage Bankers Association said on Wednesday.

Interest rates on 30-year fixed-rate "conforming" mortgages or loans whose balances are $484,350 or less decreased to 4.23%, which was the lowest since January 2018. A week ago, they averaged 4.33%.

MBA’s seasonally adjusted gauge of applications to refinance an existing home loan edged up 0.2 percent from a six-week low to 1,274.5. It was 2,177.4 a year earlier. The refinancing share of overall mortgage activity grew to 42.6 percent from prior week’s 41.6 percent, which was the lowest since September 2008.

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(Reuters) – U.S. mortgage applications to buy a home and to refinance one rose in early September as most home borrowing costs fell with some 30-year rates hitting their lowest levels since late.

Last week the average contract interest rate for 5/1 ARMs decreased to 3.30% from 3.41%, and yesterday the MBA told us that the adjustable-rate mortgage share of activity. st, U.S. Bank is reducing.