Mortgage rates today fellacross the board, with 30-year fixed rates down byeight basis points, and15-year fixed loans and 5/1 ARMs down by three and two basis points, respectively, according to a NerdWalletsurvey of mortgage ratespublished by national lendersWednesday morning. The 30-year fixed rates haveseen some volatility in recent weeks, and will continueto fluctuate as investors grapple with uncertainty and faltering confidencein the pace of U.S. economic growth.
MORTGAGE RATES TODAY, Wednesday, FEB. 22:
(Change from 2/21) Get personalized mortgage ratesMortgage applications drop 2% week-over-week Mortgage applications dipped for the week ending Feb. 17, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.
The index, which is based on a survey covering 75% of all U.S. retail residential mortgage applications, fell 2% on a seasonally adjusted basis from the previous week, according to an MBA news release. Purchase applications decreased a seasonally adjusted 3% compared with the previous week, though they were an unadjusted 10% higher than the same week in 2016. Refinance activity is continuing to drop as mortgage rate volatility gives borrowers pause if they haven’t yet refinanced their homes. Refinance applications fell 1% from the previous week to the lowest level in a month, the MBA reported. Also, the refinance share of activity fell to 46.2% of overall mortgage applications — the lowest level since November 2008 — from 46.9% the previous week. “Rates were up last week as markets assessed that the Fed might increase rates sooner than expected on the strength of a recent pick-up in inflation readings,” Joel Kan, MBA associate vice president of industry surveys and forecasting,said in the release. “Refinances were not overly sensitive to the four-basis-point increase in mortgage rates, falling just 1% from the previous week. Purchase applications, on the other hand, are not increasing as fast as is typically expected at this time of the year, leading to a decline there as well, after seasonal adjustment.” » MORE: Calculate your monthly mortgage payment
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NerdWallet daily mortgage rates are an average of the published annual percentage ratewith the lowest points for each loan term offeredby a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providingthe most accurate view of the costsa borrower might pay. Deborah Kearnsis a staff writer at NerdWallet, a personal finance website. Email: dkearns@nerdwallet.com. Twitter: @debbie_kearns. .investor-form { text-align:center; max-width: 400px; margin:auto;}Mortgage Rate Newsletter Get daily mortgage rate updates delivered straight to your inbox! 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30-year fixed: 4.32% APR (–0.08)
15-year fixed: 3.69% APR (-0.03)
5/1 ARM: 3.80% APR (-0.02)
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