From East to West Reeds Are The Best!
*The refinance share of mortgage activity decreased to 53 percent of total applications from 54 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 8 percent of total applications.
*The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) remained unchanged at 4.33 percent, with points increasing to 0.24 from 0.23 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA remained unchanged at 4.03 percent.
Rich & Annie Reed
CalBRE# 01906230 & 01894384