According to the Primary Mortgage Market Survey released by Freddie Mac, average fixed-rate mortgage rates dropped to some of their lowest levels in 2014.
According to the Primary Mortgage Market Survey released by Freddie Mac, average fixed-rate mortgage rates decreased.
According to the Primary Mortgage Market Survey released by Freddie Mac, averaged fixed-rate mortgage rates moved slightly higher while remaining near this year’s lows during the past month.
The Dow Jones Industrial Average dropped 70 points Friday on what turned out to be a bad day all around for stocks. The S&P 500 fell nearly 3% for the week, while the NASDAQ decreased more than 2%.
Jobless Claims fell a very surprising 19,000 last week to much lower-than-expected level of 284,000.
New home sales, which surged in May, rose 4 points in July and is at its best level since January.
Despite mortgage rates that rose just slightly, mortgage applications for home purchases jumped 4% following a run of soft showings.
Pending Home Sales jumped a very strong 6.1%. All regions showed solid gains in this area, but were led by the Northeast, which has proven to be the strongest region for existing home sales.
Demand for both purchase and refinancing applications increased significantly last week. Purchase applications rose 9.0%, while refinance applications jumped 11.0%.
Initial claims edged up 8,000 to 312,000. Despite the increase, the trend still points to improvement with the four-week average down 2,250.