Average rates on 30-year fixed loans drop below 6%

Mortgage applications for the week ending Nov. 30 were up 22.5 percent from a week earlier, the Mortgage Bankers Association said today, as interest rates on 30-year fixed-rate mortgages fell below 6 percent and loan refinancings rose dramatically.

The average contract interest rate for 30-year fixed-rate mortgages fell to 5.82 percent, down from 6.09 percent the week before. That's the rate for a loan with an 80 percent loan-to-value (LTV) ratio and an average of 1.07 points, including origination fees.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.