Even Lower Interest Rates Keep Refi’s Rolling
Even Lower Interest Rates Keep Refi’s Rolling
Even Lower Interest Rates Keep Refi’s Rolling
Helpful
Tools
Mortgage
Calculator

Estimate your monthly payment for a home purchase or refinance
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about mortgage loans to find the one that's right for you
15 Year vs 30 Year
Loan Comparison

Compare payments between a 15 year and 30 year mortgage loan
Today's Mortgage
Rates

See today's current mortgage rates. Shop, compare and save.

May 17, 2012 (Chris Moore)

Applications to refinance mortgages increased for the third consecutive week as mortgage interest rates continued to decline into new record low territory brought on by the European debt crisis which has pushed Treasury bonds near their record low according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 18th, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, increased a seasonally adjusted 3.8 percent from the previous week.

On an unadjusted basis, the Index increased 3.3 percent from the previous week. The four week moving average for the seasonally adjusted Market Index is up 3.72 percent.

Michael Fratantoni, MBA’s Vice President of Research and Economics, stated, “Continuing negative developments in the sovereign debt crisis in Europe, particularly in Greece and Spain, as well as the recent French elections, which have shifted political power in a manner that will likely show less support for European austerity, helped push the US 10 Year Treasury yield below 1.7 percent last week. Mortgage rates again dipped to new record lows in the survey, which spurred more borrowers back into the refinance market. As a result, applications for refinance loans have increased for the third straight week and are at the highest level since February of this year. The HARP share of refinance applications was essentially unchanged over the week at 28 percent, so it was not the primary driver of the increase over the previous week.”

Purchase Applications:

The seasonally adjusted Purchase Index decreased 3.0 percent from the previous week. The four week moving average is up 0.17 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 3.6 percent compared with the previous week and was 4.2 percent lower than the same week a year ago.

Refinance Applications:

The Refinance Index increased 5.6 percent from the previous week. The four week moving average for the Refinance Index is up 4.83 percent.

The refinance share of mortgage activity increased to 76.6 percent of total applications from 74.9 percent the previous week.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous

30-Year FRM Conforming
($417,500 or less)

3.93*

3.96

0.37

0.39

Decreased

30-Year FRM Non-Conforming
($417,501 or more)

4.25

4.20*

0.42

0.36

Increased

15-Year FRM

3.26*

3.26*

0.42

0.41

Decreased

FHA 30-Year

3.73*

3.75

0.66

0.57

Decreased

5/1 ARM

2.83

2.80

0.42

0.37

Increased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity decreased to 5.0 percent from 5.0 percent the previous week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
Mortgage Bankers Association

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

May 17, 2012 (Chris Moore)

Applications to refinance mortgages increased for the third consecutive week as mortgage interest rates continued to decline into new record low territory brought on by the European debt crisis which has pushed Treasury bonds near their record low according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 18th, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, increased a seasonally adjusted 3.8 percent from the previous week.

On an unadjusted basis, the Index increased 3.3 percent from the previous week. The four week moving average for the seasonally adjusted Market Index is up 3.72 percent.

Michael Fratantoni, MBA’s Vice President of Research and Economics, stated, “Continuing negative developments in the sovereign debt crisis in Europe, particularly in Greece and Spain, as well as the recent French elections, which have shifted political power in a manner that will likely show less support for European austerity, helped push the US 10 Year Treasury yield below 1.7 percent last week. Mortgage rates again dipped to new record lows in the survey, which spurred more borrowers back into the refinance market. As a result, applications for refinance loans have increased for the third straight week and are at the highest level since February of this year. The HARP share of refinance applications was essentially unchanged over the week at 28 percent, so it was not the primary driver of the increase over the previous week.”

Purchase Applications:

The seasonally adjusted Purchase Index decreased 3.0 percent from the previous week. The four week moving average is up 0.17 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 3.6 percent compared with the previous week and was 4.2 percent lower than the same week a year ago.

Refinance Applications:

The Refinance Index increased 5.6 percent from the previous week. The four week moving average for the Refinance Index is up 4.83 percent.

The refinance share of mortgage activity increased to 76.6 percent of total applications from 74.9 percent the previous week.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous

30-Year FRM Conforming
($417,500 or less)

3.93*

3.96

0.37

0.39

Decreased

30-Year FRM Non-Conforming
($417,501 or more)

4.25

4.20*

0.42

0.36

Increased

15-Year FRM

3.26*

3.26*

0.42

0.41

Decreased

FHA 30-Year

3.73*

3.75

0.66

0.57

Decreased

5/1 ARM

2.83

2.80

0.42

0.37

Increased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity decreased to 5.0 percent from 5.0 percent the previous week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
Mortgage Bankers Association

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

May 17, 2012 (Chris Moore)

Applications to refinance mortgages increased for the third consecutive week as mortgage interest rates continued to decline into new record low territory brought on by the European debt crisis which has pushed Treasury bonds near their record low according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 18th, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, increased a seasonally adjusted 3.8 percent from the previous week.

On an unadjusted basis, the Index increased 3.3 percent from the previous week. The four week moving average for the seasonally adjusted Market Index is up 3.72 percent.

Michael Fratantoni, MBA’s Vice President of Research and Economics, stated, “Continuing negative developments in the sovereign debt crisis in Europe, particularly in Greece and Spain, as well as the recent French elections, which have shifted political power in a manner that will likely show less support for European austerity, helped push the US 10 Year Treasury yield below 1.7 percent last week. Mortgage rates again dipped to new record lows in the survey, which spurred more borrowers back into the refinance market. As a result, applications for refinance loans have increased for the third straight week and are at the highest level since February of this year. The HARP share of refinance applications was essentially unchanged over the week at 28 percent, so it was not the primary driver of the increase over the previous week.”

Purchase Applications:

The seasonally adjusted Purchase Index decreased 3.0 percent from the previous week. The four week moving average is up 0.17 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 3.6 percent compared with the previous week and was 4.2 percent lower than the same week a year ago.

Refinance Applications:

The Refinance Index increased 5.6 percent from the previous week. The four week moving average for the Refinance Index is up 4.83 percent.

The refinance share of mortgage activity increased to 76.6 percent of total applications from 74.9 percent the previous week.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous

30-Year FRM Conforming
($417,500 or less)

3.93*

3.96

0.37

0.39

Decreased

30-Year FRM Non-Conforming
($417,501 or more)

4.25

4.20*

0.42

0.36

Increased

15-Year FRM

3.26*

3.26*

0.42

0.41

Decreased

FHA 30-Year

3.73*

3.75

0.66

0.57

Decreased

5/1 ARM

2.83

2.80

0.42

0.37

Increased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity decreased to 5.0 percent from 5.0 percent the previous week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
Mortgage Bankers Association

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.