Mortgage interest rates slide in FHFA December index

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Slight Increase in Mortgage Rates in August By Danushka Nanayakkara-Skillington on October 1, 2018 (). The Federal Housing Finance Agency reported that mortgage rates on purchases of newly built homes (MIRS) rose by three basis points over the month of August 2018 to 4.63 percent, marking the tenth consecutive monthly increase.

Mortgage interest rates rose in December across the U.S., a new report from the Federal Housing Finance Agency showed. According to the FHFA, several indices of new mortgage contracts showed that.

Total mortgage application volume rose 2 percent last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was. lower than a year.

The average interest rate on 15-year, fixed-rate loans of $417,000 or less decreased 44 basis points to 5.43 percent in December. The FHFA reports that interest rates in December were at 4.08 percent, a 3 basis point increase from November’s 4.05 percent, and 10 basis points higher than October’s rate of 3.98 percent.

The slide in applications comes in spite of the downward trend in mortgage rates and solid labor market conditions. For the week ahead Economic data is on the lighter side, with key stats including.

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While retail sales were on the rise in January, a sizeable reversal to December numbers. on projections for growth and interest rate hikes for the coming year. Anything dovish and mortgage rates.

Mortgage rates, in turn, followed the surge in treasury yields.” separately, the Federal Housing. Lenders Index was 4.08 percent for loans closed in late December, up three basis points from 4.05.

Even credit-worthy borrowers struggle to get a mortgage Even credit-worthy borrowers struggle to get a mortgage Trey Garrison was a Senior Financial Reporter for His body of works are his views and his views alone.

On an unadjusted basis, the Mortgage Composite index decreased 7% from the previous week. “With rates continuing to slide lower, refinance borrowers. to 7.9% of total applications. The Federal.