U.S. mortgage activity jumps as rates fall

TRD New York /
Jul.July 01, 2010 02:15 PM

Mortgage activity jumped 30 percent this week, according to Mortech-MortgageDaily.com, which measures the number of mortgage rate inquiries by loan originators and mortgage bankers in its database. Much of that activity was spurred by refinancing. Inquiries in the refinancing realm jumped to 61 percent this week from just over 50 percent one week earlier. Meanwhile, mortgage rates fell this week, according to data from Freddie Mac. The 30-year fixed-rate mortgage came in at and average of 4.58 percent, down from 4.69 percent last week, and the 15-year fixed-rate mortgage averaged 4.04 percent. Last week, the 15-year mortgage was at 4.13 percent. “While fixed mortgage rates were already at record lows, investors — who drove the Dow Jones Industrial Average down below 10,000 — fled to the relative security of U.S. Treasury bonds, pushing mortgage rates even lower this week,” said Don Kracl, president of Mortech. “We suspect new mortgage activity might continue at an elevated level through next week.” TRD

 

Related Articles

arrow_forward_ios
US home mortgage debt surges past pre-recession record

US home mortgage debt surges past pre-recession record

FHFA director Mark Calabria is ready to set Fannie and Freddie free, while Wall Street worries about potential risks.

Wall Street warns against privatizing Fannie and Freddie without Congress guarantee

FHFA director Mark Calabria (Credit: Federal Housing Finance Agency and Getty Images)

Trump official to pressure Congress to privatize Freddie and Fannie

Mortgage rates plummet to lowest levels in nearly 2 years

Mortgage rates plummet to lowest levels in nearly 2 years

FHFA director Mark Calabria (Credit: Federal Housing Finance Agency and iStock)

Trump’s move to take Fannie and Freddie private could mean higher mortgage costs

President Donald Trump (Credit: Getty Images)

Mortgage guarantors Fannie Mae and Freddie Mac to return to private control

Corelogic’s chief counsel is leaving the company as it deals with a DOJ inquiry

Corelogic’s chief counsel is leaving the company as it deals with a DOJ inquiry

Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners

Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners

arrow_forward_ios
Loading...