Share this article!

Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association. However, applications are still down 10% compared to one week ago.

The MBA said that last week’s jump in mortgage rates may have actually increased homebuying demand, as consumers worry that rates will rise again in the coming weeks. Mortgage rates are now at their highest level since 2008.

Booking.com

Last week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.98% from 5.65%, with points rising to 0.77 from 0.71 (including the origination fee) for loans with a 20% down payment. Rates are now nearly double what they were one year ago.

 

Reset password

Enter your email address and we will send you a link to change your password.

Get started with your account

to save your favorite homes and more

Sign up with email

Get started with your account

to save your favorite homes and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

Sign up with email