WASHINGTON, D.C. (May 17, 2017) – Mortgage applications decreased 4.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 12, 2017.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) remained unchanged at 4.23 percent, with points increasing to 0.37 from 0.31 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $424,100) increased to 4.23 percent from 4.22 percent, with points increasing to 0.30 from 0.28 (including the origination fee) for 80 percent LTV loans.
The average contract interest rate for 15-year fixed-rate mortgages increased to 3.51 percent from 3.50 percent, with points decreasing to 0.33 from 0.40 (including the origination fee) for 80 percent LTV loans.
The average contract interest rate for 5/1 ARMs decreased to 3.30 percent from 3.36 percent, with points increasing to 0.21 from 0.15 (including the origination fee) for 80 percent LTV loans.
Buying or Refinancing a home doesn’t have to be Stressful
With rates so low many have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan. At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me, it’s a great deal easier with our help and expertise.
The average time to close a loan is about 30 days. We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available. We understand the guidelines and know what different lenders can do, which incresaes your opportunities for a fast easy loan with a great rate.
Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.
For a free consultation,
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com
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Sources: MBA, CNBC, Bloomberg