Mortgage rates hit a new low last week as applications continued a downward trend, with total applications dropping 0.7%, according to the Mortgage Bankers Association
Mortgage rates hit yet another record low last week as applications continued a downward trend, with total applications dropping 0.7 percent on a seasonally adjusted basis and 1 percent on an unadjusted basis, week over week, according to the latest weekly mortgage survey by the Mortgage Bankers Association.
The 30-year fixed mortgage rate declined to 3 percent, according to the survey, down from last week’s 3.01 percent. The rate for a 15-year fixed-rate mortgage remained unchanged from the week prior at 2.59 percent.
By Patrick Kearns, Inman News
