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Record Low Rates Push Mortgage Activity Up

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose 9.2 percent in the week ended Friday with interest rates hitting record lows.

The trade group’s Refinancing Index also rose significantly, up 13 percent, the MBA said.

Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.01 percent to 3.96 percent with average points falling from 0.41 to 0.37.

That is the lowest rate in the history of the survey, the MBA said.

Also dropping to a record low, rates for 15-year, fixed-rate contracts fell from 3.29 percent to 3.26 percent — setting a record for the third consecutive week.

Points for 15-year loans fell from 0.32 to 0.41.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

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