Mortgage applications down 1.2%, rates going upStaff Writer | November 10, 2016
For five straight weeks, mortgage interest rates have trended higher, and thrown a wet blanket on what had been a booming refinance market.
Houses The highest level since June
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to its highest level since June, 3.77 percent, from 3.75 percent, with points increasing to 0.38 from 0.36 (including the origination fee) for 80 percent loan-to-value ratio loans. ■