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This case had been presented to the Court of Justice of the European Union CJEU. It related to a mortgage finalised in Spain.
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Mortgage applications volume rose on the same week that global interest rates hiked. In its latest report, Mortgage Bankers Association ‘s Weekly Mortgage Applications Survey reported an overall increase of 1.4 percent in total mortgage applications from the week prior.
Mortgage rates dropped again for most loan types, which led to an increase in refinance activity, partly driven by a 9% jump in VA applications,” said Joel Kan, MBA’s associate vice president of. Get the MBA Purchase Index results in real time as they’re announced and see the immediate global market impact..
Conventional purchase applications rose 1.6 percent and government applications rose 0.9 percent. Refinance applications posted a 5.1 percent gain, as conventional and government refinance applications increased 5.2 percent and 4.4 percent, respectively. The survey’s average 30-year fixed mortgage rate fell 5 basis points to 4.06 percent.
Here is what Freddie Mac’s Economic and Housing Research Group had to say about mortgage rates this week: "The 30-year fixed-rate mortgage inched higher for the second straight week. Borrowing costs may be slowly on the rise again in coming weeks, as investors remain optimistic about the underlying strength of the economy.
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