Geez, that didn't take long to come (partially) true.
Katrina Gutierrez
DailyMarkets.com Staff Writer
US Mortgage Rates Decrease To Lower Levels Once Again
By Katrina Gutierrez updated June 22, 2013
This week it finally seems like mortgage rates might start decreasing once again, after more than a month of rising rates, during which mortgages reached many of the highest rates we have seen in 2013.
Mortgage applications this week decreased by 3.33% compared to last week, which I assume could be because people who wanted to apply for a mortgage might be waiting to see if mortgage rates continue to decrease to get a better deal.
30-year fixed-rate mortgages have decreased from 3.98% last week to 3.93% this week. This small decrease might be marking a steady downturn trend of mortgages once again.
According to Freddie Mac, 15-year fixed-rate mortgages also decreased from 3.1% last week to 3.04% this week.
5-year adjustable-rate mortgages have remained unchanged at 2.79%. This is the only rate that hasn’t changed this week.
1-year adjustable-rate mortgages have also decreased slightly from 2.58% last week to 2.57% this week, following the overall trend.
The refinance share of mortgage applications has remained unchanged at 69% this week. The adjustable-rate mortgage share of activity has also remained steady at 7%.
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