Rates increase slightly
Thirty-Year Fixed Mortgage Rate Increases For the First Time Since Mid-October
December 8, 2009 - The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased five points last week to 4.67 percent, up from 4.62 percent the week prior. Meanwhile, rose one basis point to 4.20 percent from 4.19 percent, while 5-1 adjustable rate mortgages remained flat at 3.74 percent.
The volume of mortgage requests last week rose 10 percent from the prior week. Of last week’s requests, 51 percent were for refinance loans, 48 percent were for purchase loans and 2 percent were for home equity loans. The prior week, 49 percent of requests were for refinance loans, 49 percent were for purchase loans and 2 percent were for home equity loans.