Mortgage Rates Wednesday, July 19: Applications Increase as Rates Continue to Fall

Finding the Right Mortgage, Mortgage Rates, Mortgages

Mortgage rates for 30-year fixed-rate loans dropped by two basis points from Tuesday, while 15-year fixed loans and 5/1 ARMs showed no change, according to a NerdWallet survey of mortgage rates published by national lenders Wednesday morning.

Mortgage applications increased 6.3% from the week prior, according to the Mortgage Bankers Association’s weekly applications survey released this morning. For the week ending July 14, refinance applications were up 13% from the previous week, while purchase applications only increased by 1%. Last week, according to NerdWallet’s rate survey, rates for all three products moved lower as the week progressed.

“Treasury yields were slightly lower last week as testimony from Federal Reserve Chair Janet Yellen was perceived to be more dovish than expected, and as the market received data signaling weaker inflation and retail sales for June,” MBA associate vice president of economic forecasting Joel Kan said in a release. “These factors kept the 30-year fixed contract rate flat over the week. However, a decrease in discount points lowered the effective rate on the 30-year fixed mortgage by four basis points.”

MORTGAGE RATES TODAY, Wednesday, JULY 19:

(Change from 7/18)
30-year fixed: 4.08% APR (-0.02)
15-year fixed: 3.48% APR (NC)
5/1 ARM: 3.92% APR (NC)


NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

Emily Starbuck Crone is a staff writer at NerdWallet, a personal finance website. Email: emily.crone@nerdwallet.com.