Mortgage apps barely move for second week in a row

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Mortgage applications showed little movement for the second straight week, slightly increasing 0.6%, the Mortgage Bankers Association reported Wednesday.

Rates move to 3-year lows Yesterday’s Freddie Mac Private Mortgage Market Survey was released and it revealed that mortgage rates dropped for the second week in a row. The average rate on the 30-year fixed is 3.57% (0.5 points), 15-year fixed is 2.81% (0.5 points), and the 5-ARM is 2.78% (0.5 points).

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 · While barely moving at all, mortgage rates were mixed again this week, but seem poised for another leg down in the days ahead. The average offered rate for a 30-year fixed-rate mortgage as tracked by Freddie Mac rose by two basis points (0.02%) to move to 3.84%, the first increase for the benchmark U.S. mortgage in eight weeks.

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Mortgage Applications Head Higher for Second Week in a Row The Mortgage Bankers Association reported today that applications for home loans notched a solid increase last week for the second time.

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