Mortgage Rates Inch Higher – Mortgage Applications Volume Declines

According to the Mortgage Bankers Association a small uptick in mortgage rates, the average contract interest rate for a 30-year fixed-rate mortgage increased to 3.99% from 3.98%, resulted in a decrease of 5.3% in new mortgage applications when compared to last week. However, they were 5% higher when compared to the same week one year ago.  Refinancing a home loan also fell 5% from the previous week but were still 128% higher than a year ago.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.