Real estate mortgage rates have declined to the lowest level since mid -December, but the demand is still short

The mortgage interest rates decreased again last week, reaching the lowest level in two months, but the demand for real estate loans did not respond. The total volume of mortgage request decreased by 1.2 % from the previous week, according to the seasons of the mortgage association index.

The average rate of the contract for the mortgage contract for 30 years has decreased with identical loans’ balances ($ 806,500 or less) to 6.88 % of 6.93 %, with points drop to 0.61 from 0.66 (including fees for its inception) for reports that contain a first batch by 20 %.

Joel Kan, Vice President of the Master of Business Administration and Economist, said: “Treasury revenue has decreased to the most soft consumer spending data, as consumers feel a less optimistic degree about the economy and the labor market.

Re -financing requests decreased a loan for the home, which was rising during most of January and early February, by 4 % for this week, but it was 45 % higher than the same week one year ago. Last year at this time, mortgage rates were the top 16 basis points.

“Although the activity of the total re -financing application remained somewhat weak, the FBI applications witnessed an 8 percent increase from the week,” he added.

Mortgage requests to buy a fixed house for the week and 3 % were higher than the same week one year ago. The resale market is witnessing more supply, partly because homes are sitting on the market for a longer period. But although there are more options, prices do not reduce much, as stocks are still historically low.

Mortgage rates continued to decrease to start this week, according to a separate survey of mortgage news daily. Over the past four days, the average first -degree mortgage rate has decreased by 0.22 %. This may not seem much, but prices were moving in a very narrow range during the past month.

Matthew Graham, Executive Director of Operations at Mortgage News Daily, said, noting that when the demand rises, when the demand rates rise: “A long short story, the bonds are on the current time.” “The broader and most common interpretations are related to expectations related to global economic growth in response to local tariffs and cost reduction efforts.”

Correction: The average interest rate in the mortgage contract decreased for 30 years with matching loan balances (806,500 dollars or less) to 6.88 % of 6.93 %. A previous version made a mistake in the shape.