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Wednesday, February 27, 2013

MBA: Mortgage Applications Decrease $MBI $RDN $MTG

MBA: Mortgage Applications Decrease

The Refinance Index decreased 3 percent from the previous week. The seasonally adjusted Purchase Index decreased 5 percent from one week earlier and is at its lowest level since the week ending December 28, 2012.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 3.77 percent from 3.78 percent, with points increasing to 0.48 from 0.40 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. 

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