New Mortgage Applications Rise with Rates

New mortgage applications rose as interest rates increased, making refinancing less attractive and thus less popular. The total volume of loan applications fell 0.9 percent for the week ending December 3, according to the Mortgage Bankers Association, with refinances declining 1.4 percent and new purchase applications rising 1.8 percent. The pattern is similar to that of recent weeks, suggesting that more homebuyers are making a move due to fears of rising rates. The average 30-year fixed-rate mortgage now has an interest rate of 4.66 percent.
Read Full Story

Can't get enough real estate news?

Sign up for Finance Report by AOL and get everything from celebrity homes to renovation tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a home

Buy
Rent
Value
Powered by Zillow