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Posted: Mon 18:41, 28 Oct 2013 Post subject: as interest rates continued to climb |
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Long-term mortgage rates at 9- and 12-month highs
WASHINGTON, May 29 () -- U.S. mortgage activity fell for the second consecutive week, as interest rates continued to climb,[url=http://www.christianlouboutinonlineshop.de/]christian louboutin outlet[/url], the Mortgage Bankers Association said Wednesday.The association said mortgage activity fell 8.8 percent in the week while refinancing activity dropped 12 percent in the week ending Friday.Interest rates for 30-year, fixed-rate conforming mortgages increased from 3.78 percent to 3.9 percent during the week, the highest rate in 12 months.Points for 30-year conforming loans were unchanged at 0.39.The average interest rate for 30-year contracts on jumbo loans -- larger than $417,500 -- rose from 3.93 percent to 4.07 percent, the highest rate in nine months. Points for 30-year jumbo loans fell from 0.36 to 0.27.Interest rates for 15-year,[url=http://www.parajumpersjackenoutlet.de/]parajumpers jacken outlet[/url], fixed-rate mortgages rose from 2.96 percent to 3.1 percent, also hitting the highest level in nine months. Points for 15-year,[url=http://www.parajumpersjackenoutlet.de/]long bear parajumpers[/url], fixed-rate contracts fell from 0.32 to 0.3.The average rate for 30-year loans backed by the Federal Housing Administration rose from 3.53 percent to 3.62 percent, a nine-month high,[url=http://www.parajumpersjackenoutlet.de/]parajumpers online shop[/url], with points rising from 0.13 to 0.27.The average rate for short-term, adjustable-rate mortgages held steady at 2.6 percent. Points for short-term adjustable-rate loans rose to 0.24 from 0.23, the MBA said.
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