Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Mortgage applications plummeted 10.6 percent during the week ending Sept. 19 as jitters in financial markets produced a spike in interest rates.The Mortgage Bankers Association said the average rate for 30-year fixed-rate mortgages increased to 6.08 percent, up from 5.82 percent the previous week, with points remaining at 1.13 (including the origination fee) for 80 percent loan-to value ratio loans.The average rate for 15-year fixed-rate mortgages increased to 5.84 percent, up from 5.54 percent, with points increasing to 1.17 from 1.12 for 80 percent LTV loans.The average rate for one-year ARMs increased to 7.01 percent, up from 6.95 percent, with points decreasing to 0.33 from 0.34 for 80 percent LTV loans.The MBA's Weekly Mortgage Applications Survey registered a decrease of 10.6 percent...