Change in Mortgage Rates Affecting Refinance Loans
News from Freddie Mac shows average 30 year fixed mortgage rates rose above 5%, which is up from 4.94% last week. The last time the average mortgage rate was above 5% was the end of October 2009. Last year at this time, the 30 year fixed mortgage rate averaged 5.14%.
The yields on Treasury debt have surged from declining investor demand, which caused an increase in mortgage rates and a decrease in loan applications. The volume of refinance mortgage loans could be higher except for higher mortgage rates and other barriers facing many homeowners, such as, home values and lender qualifying guidelines.
Refinance Rates
The yields on Treasury debt have surged from declining investor demand, which caused an increase in mortgage rates and a decrease in loan applications. The volume of refinance mortgage loans could be higher except for higher mortgage rates and other barriers facing many homeowners, such as, home values and lender qualifying guidelines.
Refinance Rates
posted by CRHOME.com at
6:37 AM
1 Comments:
This is an expected bad news.
I'm afarid that with this trend, mortgage rates will continue to rise this year.
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