NEW YORK CITY-Little changes have been seen this week in short- and long-term mortgage rates. The average value for 30-year fixed-rate mortgages reach 4.88% this week from 4.87% last week.
The average value for 15-year fixed-rate loans remained unchanged at 4.15%. The one-year adjustable rate decreased from 3.23% to 3.21%. According to the Mortgage Bankers Association, mortgage applications increased just about 16% last week. Applications to refinance and purchase increased to 17.2% and 12.5%, respectively.For the full story, go to The Business Journal.
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