Freddie Mac, the Mortgage Brokers Association (MBA)
and HSH Market Trends reported rising mortgage interest rates last
In their survey on April 28th, Freddie Mac reported
that 30-year fixed-rate mortgages rose to 3.66% from 3.59% the previous
week. They also noted that last year at this time the 30-year rate was
at 3.68%.Additional information from Freddie Mac can be found by going to: Primary Mortgage Market Survey PMMS - Freddie Mac
The MBA reported on April 27th (for the week ending
April 22nd) that 30-year rates with conforming loan balances ($417,000
or less) increased, from 3.83% to 3.85%. The average contract interest
rate for 30-year fixed-rate mortgages with jumbo loan balances (greater
than $417,000) moved upward from 3.77% to 3.78% while rates for FHA
backed mortgages also rose, moving from 3.64% to 3.66%.
Mortgage applications declined by 4.1% from the
previous period. Refinance applications as a percentage of all
applications fell from 55.4% to 54.4%. The FHA share of applications
increased to 12.3% from 10.6% and the VA share fell from 12.6% to 12.2%.Additional information from the Mortgage Bankers Association can be found by going to their site at: Research and Forecasts - Mortgage Bankers Association
On April 29th, HSH.com Market Trends reported that
30-year mortgage rates rose from 3.68% to 3.76% and rates for FHA-backed
mortgages also moved upward, to 3.56% from 3.52%.
Additional information from HSH can be found by going to: HSH.ComFor all your Residential and Commercial Real Estate Appraisal needs please contact:James M. Hanson Associates, Inc.Phone: (609) 884-9185Email: Info@AppraiseNewJersey.comCommunity Resource LinksCape May Chamber of CommerceCape May County Chamber of CommerceAvalon Chamber of CommerceAtlantic City Chamber of Commerce
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