Mortgage Rates Set Yet Another Record Low, But Applications Fall
The average contract interest rate for 30-year fixed-rate mortgages decreased to 3% from 3.01%.
Applications for a mortgage to purchase a home fell 2% for the week but were 24% higher annually, the Mortgage Banker’s Association said.
Applications to refinance a home, which are most sensitive to weekly interest rate movements, fell 0.3% for the week.
