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U.S. Mortgage Rates Dip Slighty, Applications Rise

Jun 21, 2018 5:41:40 PM

Average U.S. mortgage interest rates declined slightly for the week ending June 21, 2018, according to Freddie Mac's weekly Primary Mortgage Market Survey.

Happy Homebuyers who took advantage of a first-time homebuyers programThe 30-year, fixed-rate mortgage loan averaged 4.57 percent, with an average 0.5 point, down from 4.62 percent the previous week. The 30-year note averaged 3.90 percent during the same week last year.

After rising earlier in the year, mortgage loan interest rates have bounced up and down for a couple of months and declined three of the last four weeks.

The 15-year, fixed-rate mortgage averaged 4.04 percent, with an average 0.4 point, after averaging 4.07 percent the previous week. Last year the 15-year loan averaged 3.17 percent.

The five-year, adjustable-rate mortgage (ARM) averaged 3.83 percent, with an average 0.3 point. The five-year ARM was unchanged from the previous week. During the same week last year, the five-year ARM averaged 3.14 percent.

Mortgage applications increased 5.1 percent from one week earlier, according to data released by the Mortgage Bankers Association's (MBA) on June 20, 2018, for the week ending June 15, 2018.

The MBA's Refinance Index increased 6 percent from the previous week. The seasonally adjusted Purchase Index rose 4 percent from one week earlier.

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Topics: Mortgage Rates & News


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