NC Mortgage Rates

NC Mortgage Rates have dropped below 5 percent for 30year mortgages. Mortgage applications showed an increase as there is still a large quantity of borrowers looking to refinance from a high mortgage rate. The Mortgage Bankers Association (MBA) showed that the week ending in January 8th, mortgage applications for refinance mortgages increased by 21.8% from the previous week. This caused overall mortgage applications for refinances to increase to 71.5% according to data released Wednesday

Purchase Money Mortgage applications have increased by 0.8% from the previous week.

The average and cost to obtain the rate has been 5.13% with 1.17% in points on a 30yr fixed rate mortgage from the week earlier. The previous week showed 5.18% and 1.28% in points for the 30yr fixed rate mortgages.

Fifteen year mortgages showed rates dropping to 4.25% from 4.62%, and the average amount paid in points and/or origination fees were 1.04% compared to 0.98% in points from the previous week