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Mortgage Rates Wednesday, Feb. 22: Down; Mortgage Applications Fall

Earlier, today’s market data were mostly positive for mortgage rates, suggesting those rates might hold steady or fall a little over the next 24 hours. By approaching 10:00 a.m. (ET), the data.

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When rates fall. Your interest rate: $50 annual interest / $1,000 = 5.0% Your buyer’s interest rate: $50 annual interest / $1,200 = 4.2% The buyer gets an interest rate, or yield, of only 4.2 percent. And that’s why, when demand for bonds increases and bond prices go up, interest rates go down.

US Long-Term Mortgage Rates Fall; 30-Year Average Below 4% – FILE – In this Wednesday, Feb. 20, 2019, photo a price reduced for sale sign sit. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year, fixed-rate mortgage fell to 3.99%.

Mortgage rates today fell across the board, with 30-year fixed rates down by eight basis points. Also, mortgage applications fall by 2% week-over-week.

Mortgage Loan rates tick higher, Applications Slip 2%. The unadjusted purchase index increased by 2% for the week and is now 10% higher year over year. The MBA’s refinance index decreased by 1% week over week, and the percentage of all new applications that were seeking refinancing slipped from 46.9% to 46.2%, its lowest level since November of 2008.

Our Mortgage has been with Chase for the last few years and we are more than frustrated with the bank’s clear reluctance to apply funds correctly as we work to pay down. for February. The check.

The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was down 9.7 percent to 909.5.

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After increasing the previous two weeks, mortgage application volume fell 2.5% on an adjusted basis during the week ended February 22, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. The drop coincided with a slight increase in mortgage interest rates: The average.

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Today’s update discusses existing home sales numbers and mortgage purchase applications. The existing home sales data for January was released earlier in the day. In brief, sales were up, inventory down to nearly 7-year lows, while the median transacted price was still lower than one year ago.