Home mortgage interest rates last week rose at the fastest speed in over a year, throwing cold water on already cooling demand.Total home loan application volume was basically flat for the week, rising simply 0.5% according to the Mortgage Bankers Associations seasonally changed index.The average agreement interest rate for 30-year fixed-rate home mortgages with conforming loan balances ($ 548,250 or less) increased to 3.23% from 3.08%, with points increasing to 0.48 from 0.46 (including the origination charge) for loans with a 20% down payment.” Applications to refinance a house loan, which are most delicate to weekly rate relocations, managed to eke out a 0.1% gain for the week and were just 7% higher than a year ago. By comparison, refinance volume in the middle of December was over 100% greater year over year.The refinance share of home mortgage activity decreased to 67.5% of overall applications from 68.5% the previous week.Mortgage applications to acquire a house increased 2% for the week and were simply 1% greater than a year earlier.

Home mortgage interest rates last week rose at the fastest pace in over a year, tossing cold water on already cooling demand.Total home mortgage application volume was essentially flat for the week, rising simply 0.5% according to the Mortgage Bankers Associations seasonally changed index.The typical contract interest rate for 30-year fixed-rate home loans with adhering loan balances ($ 548,250 or less) increased to 3.23% from 3.08%, with points increasing to 0.48 from 0.46 (consisting of the origination fee) for loans with a 20% down payment.” Applications to refinance a home loan, which are most delicate to weekly rate moves, managed to eke out a 0.1% gain for the week and were just 7% higher than a year ago. By comparison, refinance volume in the middle of December was over 100% greater year over year.The refinance share of mortgage activity reduced to 67.5% of total applications from 68.5% the previous week.Mortgage applications to purchase a home increased 2% for the week and were just 1% greater than a year ago.

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