Mortgage Activity Slides With Rates Down
WASHINGTON, Dec. 21 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell in the week ended Friday with long-term mortgage interest rates also dropping.
Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.12 percent to 4.08 percent with points rising from 0.45 to 0.49, the trade group said.
Rates for 15-year, fixed-rate contracts fell from 3.44 percent to 3.39 percent, the lowest rate of 2011. Points for 15-year loans fell from 0.52 to 0.4.
In the week, the Mortgage Index fell 2.6 percent, while the refinancing Index dropped 1.6 percent, the MBA said.
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