{"id":119296,"date":"2021-08-04T11:45:37","date_gmt":"2021-08-04T11:45:37","guid":{"rendered":"https:\/\/fin2me.com\/?p=119296"},"modified":"2021-08-04T11:45:37","modified_gmt":"2021-08-04T11:45:37","slug":"mortgage-rates-fall-below-3-for-first-time-since-february-mba","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/","title":{"rendered":"Mortgage rates fall below 3% for first time since February &#8211; MBA"},"content":{"rendered":"<figcaption>FILE PHOTO: A man crosses a nearly deserted Nassau Street in front of the New York Stock Exchange (NYSE) in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 3, 2020. REUTERS\/Mike Segar<\/figcaption><p>(Reuters) &#8211; The 30-year U.S. mortgage rate fell below 3% last week for the first time since February as interest rates globally drifted lower.<\/p>\n<p>The Mortgage Bankers Association (MBA) said on Wednesday its average contract interest rate for traditional 30-year mortgages decreased to 2.97% from 3.01% in the week ending July 30.<\/p>\n<p>After hitting record lows late last year below 2.9%, mortgage rates climbed in the first part of this year and peaked in the spring. Rates have been drifting lower since, held down in large part by the U.S. Federal Reserve\u2019s extraordinary stimulus measures aimed at helping the economy rebound from the coronavirus pandemic.<\/p>\n<p>The seasonally adjusted market index fell 1.7% from a week earlier, the MBA said. That reflected a 1.7% decrease in applications to refinance existing loans, while purchase applications also declined 1.7%.<\/p>\n<p>\u201cPurchase application volume decreased again, reflecting the ongoing lack of inventory that continues to drive rapid home-price appreciation across the country,\u201d Mike Fratantoni, MBA\u2019s senior vice president and chief economist, said in a statement.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/usa-economy-mba\/mortgage-rates-fall-below-3-for-first-time-since-february-mba-idUSL1N2PA2XG\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: A man crosses a nearly deserted Nassau Street in front of the New York Stock Exchange (NYSE) in the financial district of lower [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":119295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mortgage rates fall below 3% for first time since February - MBA - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage rates fall below 3% for first time since February - MBA - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: A man crosses a nearly deserted Nassau Street in front of the New York Stock Exchange (NYSE) in the financial district of lower [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-04T11:45:37+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Mortgage-rates-fall-below-3-for-first-time-since-February-MBA.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/\",\"url\":\"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/\",\"name\":\"Mortgage rates fall below 3% for first time since February - MBA - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-08-04T11:45:37+00:00\",\"dateModified\":\"2021-08-04T11:45:37+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/mortgage-rates-fall-below-3-for-first-time-since-february-mba\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Mortgage rates fall below 3% for first time since February &#8211; 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