https://youtu.be/wRb2qK0RkDU There is no set definition about what is considered pre-qualified and what is…
Nebraska Mortgage Rates | October 1 2021
Weekly Rate Update
Rates fluctuate every day and are based on several factors. For an exact rate quote, submit your request HERE for a free evaluation.
PMMS 9/30/2021
The average 30-year-fixed mortgage rate rose 13 basis points to 3.01% for the week ending Sept. 30. Mortgage rates had been roughly flat for seven weeks, and this is the first time it rose above 3% since June.
Sam Khater, Freddie Mac’s chief economist, said in a statement that rates rose across all loan types.
“Many factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages which compound other labor and materials shortages,” Khater said.
According to Khater, mortgage rates are expected to continue to rise modestly which will likely have an impact on home prices.
MBA 9/29/2021
Mortgage application volume declined by 1.1% for the week ending Sept. 24. Pushing the decline was the purchase index, which dipped by 1.2% from the previous week
On an unadjusted basis, MBA’s index decreased by 1.3% compared to the previous week, showed the survey published today. The purchase index shrank 1.9%, and the refi index contracted 0.9%.
“Mortgage rates in response rose across all loan types, with the benchmark 30-year fixed-rate reaching its highest level since early July 2021,” Joel Kan, MBA’s associate vice president of economic and industry forecasting, said.
Kan added that the increase in rates occurred “mostly later in the week.”
Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) increased seven basis points to 3.10%.
Other useful links
- How to improve your credit
- The 20% down rule on conventional
- What is Escrow?
- How is income calculated?
- Why your assets matter
- Mortgage Calculator
- Is Credit Karma accurate?
- FHA vs Conventional, which is better?
What To Do Next
Related Posts
