According to The Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.46 percent last week from 4.57 percent the week before. It is the lowest 30-year rate since the middle of November 2010. Despite the rate drop, total mortgage loan application volume fell 2.7 percent from one week earlier. The four-week moving average for total loan demand is up 0.7 percent, with the refinance index up 1.5 percent. More here and here.
Theresa Springer’s Blog
Average Mortgage Rate Falls To 4.46 Percent
June 29, 2011
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