The Westchester Industrial Portfolio is situated in infill locations and are strategically located properties that benefit from significant barriers to entry, limited new supply and connectivity to major New York transportation infrastructure.
HGAR’s remote learning approach enables students to learn from any location, and each session is taught live by HGAR’s practitioner faculty members.
The developer, Buena Vista Group LLC, will receive a sales tax exemption of $1,819,375 and a mortgage tax recording exemption of $849,224.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) increased to 6.69% from 6.68%.
WASHINGTON—Mortgage applications decreased 0.5% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey released today (Aug. 27) for the week ended Aug. 22.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.5% on a seasonally adjusted basis from one week earlier.
“Mortgage rates inched higher for the second straight week, with the 30-year fixed-rate up to 6.69%. While this was not a significant increase, it was enough to cause a pullback in refinance applications,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications had their strongest week in over a month, up 2%, and the average loan size increased to its highest level in two months at $433,400. Prospective buyers appear to be less sensitive to rates at these levels and are more active, bolstered by more inventory and cooling home-price growth in many parts of the country.”
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) increased to 6.69% from 6.68%, with points remaining unchanged at 0.60 (including the origination fee) for 80% loan-to-value ratio (LTV) loans.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $806,500) increased to 6.67% from 6.64%, with points decreasing to 0.44 from 0.60 (including the origination fee) for 80% LTV loans.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.35% from 6.39%, with points increasing to 0.80 from 0.66 (including the origination fee) for 80% LTV loans.
The average contract interest rate for 15-year fixed-rate mortgages increased to 6.03% from 5.96%, with points increasing to 0.77 from 0.70 (including the origination fee) for 80% LTV loans.
The average contract interest rate for 5/1 ARMs decreased to 5.94% from 6.01%, with points increasing to 0.68 from 0.63 (including the origination fee) for 80% LTV loans.
The refinance share of mortgage activity decreased to 45.3% of total applications from 46.1% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 8.4% of total applications.
The FHA share of total applications remained unchanged at 19.1% from the week prior. The VA share of total applications decreased to 13.3% from 13.4% the week prior. The USDA share of total applications decreased to 0.5% from 0.6% the week prior.
The Westchester Industrial Portfolio is situated in infill locations and are strategically located properties that benefit from significant barriers to entry, limited new supply and connectivity to major New York transportation infrastructure.
HGAR’s remote learning approach enables students to learn from any location, and each session is taught live by HGAR’s practitioner faculty members.
The developer, Buena Vista Group LLC, will receive a sales tax exemption of $1,819,375 and a mortgage tax recording exemption of $849,224.
As interest rates begin to ease and market participants adjust expectations, conditions for a healthier, more balanced market may gradually emerge.
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