Interest Rates Drop

Mortgage interest rates

The benchmark 30-year remained flat at 3.96 percent, giving borrowers another chance to lock in a sub-4 percent rate.

Chart

Purchase applications remain strong, refinances wane

Mortgage applications ticked up by 0.6 percent from last week, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 25, 2019.

Refinance activity fell again this week, while purchase activity picked up, amid low rates that have remained below 4 percent since July. Refinance applications dropped 5 basis points from 58.5 percent last week to 58.0 percent of total applications this week.

Published by frankzilko

It is important to hire an agent who is experienced and knows the market. I have been buying and selling properties in Orange and Riverside County since 2005.

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