The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.86% from 6.81%. Applications to refinance a home loan – most sensitive to weekly moves in interest rates – fell to the lowest level since May… but were 43% higher than the same week a year ago. Are some accepting that much lower rates are not in our near future? Applications for a mortgage to purchase a home rose 2% for the week and were 1% higher than the same week one year ago. (CNBC)
11/14/2024