MBA survey shows 1.7% decrease from previous week
Mortgage applications were lower last week with the Mortgage Bankers Association’s weekly index slipping 1.7% on a seasonally-adjusted basis from a week earlier.
Unadjusted, the Market Composite Index was down 3% along with the unadjusted indexes for both refinances and purchases (seasonally adjusted purchase index down 1%).
The refinance share of mortgage activity remained unchanged at 38.7% from the week prior. The ARM share of activity decreased to 6.3% of total applications.
The FHA share of total applications remained unchanged at 10.2% from the week prior; VA share remained unchanged at 10.5%; USDA share remained unchanged at 0.7% from the week prior.
Average contract rates mixed
|
|
Rate last week |
Previous week |
Average points (80% LTV) |
Av. points previous week |
|
30-year FRM Conforming |
4.78% |
4.81% |
0.46 |
0.42 |
|
30-year FRM Jumbo |
4.68% |
4.68% |
0.30 |
0.28 |
|
30-year FRM FHA |
4.77% |
4.82% |
0.75 |
0.69 |
|
15-year FRM
|
4.24% |
4.25% |
0.48 |
0.47 |
|
5/1 year ARMs
|
3.95% |
4.00% |
0.34 |
0.52 |
