The Refinance Index decreased 12.3 percent to 5904.5 from 6733.8 the previous week and the seasonally adjusted Purchase Index increased 7.3 percent to 344.2 from 320.9 one week earlier. The seasonally adjusted Conventional Purchase Index increased 2.3 percent while the Government Purchase Index (largely FHA) increased 19.2 percent.
The four-week moving average for the seasonally adjusted Market Index is up 7.9 percent. The four-week moving average is up 3.6 percent for the Purchase Index, while this average is up 9.3 percent for the Refinance Index.
The refinance share of mortgage activity decreased to 79.8 percent of total applications from 82.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 0.9 percent from 0.8 percent of total applications from the previous week.
The average contract interest rate for 30-year fixed-rate mortgages increased to 5.07 percent from 5.03 percent, with points decreasing to 1.16 from 1.24 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.67 percent from 4.79 percent, with points decreasing to 1.16 from 1.26 (including the origination fee) for 80 percent LTV loans.
The average contract interest rate for one-year ARMs decreased to 5.90 percent from 6.15 percent, with points decreasing to 0.31 from 0.44 (including the origination fee) for 80 percent LTV loans.
This story contains 271 words.
If you are a paid subscriber, check to make sure you have logged in. Otherwise our system cannot recognize you as having full free access to our site.
If you are a paid print subscriber and haven't yet set up an online account, click here to get your online account activated.