Refinance locks fell again in August while purchase loans stayed the dominant share of mortgage activity, according to Optimal Blue data.
National average home-loan rates moved lower at the start of a holiday-shortened week, with bigger declines in shorter-term and adjustable products.
Borrowers with strong credit can still tap home equity for major expenses, but monthly costs vary sharply by term and lender.
Bankrate says the national average on a 30-year fixed mortgage moved higher, while experts say the 10-year Treasury’s rise is keeping pressure on borrowing costs.
Freddie Mac’s latest reading puts borrowing costs at their highest point in more than a year, and Realtor.com economists see limited room for improvement.
The city and its community foundation are using cash, low-interest loans and free land to push new housing in a town of about 850 people.
Palm Beach County deputies say the money meant for closing costs was routed through a company account, then quickly spent on personal expenses and transfers.
Zillow’s latest national averages show purchase rates edging below refi pricing for fixed loans, while adjustable-rate loans remain mixed.
National mortgage averages moved higher again, with Zillow data showing increases across major loan types and forecasts calling for rates to stay near current levels.
Freddie Mac says the average 30-year fixed mortgage rose to 6.71% this week, raising monthly payments and keeping both buyers and sellers on the sidelines.