But unadjusted index shows jump for purchase loans
Mortgage applications were lower last week with seasonally adjusted data from the Mortgage Bankers Association showing a 1.5% decline in its Market Composite Index.
Unadjusted, the index was up 9% from the previous week with the unadjusted purchase applications index up by the same percentage; the adjusted purchase index was down 2%. The refinance index decreased 2%.
The refinance share of all applications was unchanged from the previous week at 35.6%.
ARMs accounted for 6.8% of total applications.
Week-over-week the FHA share of total applications increased to 10.6% from 9.7%; the VA share of total applications increased to 10.7% from 10.1% the week prior. The USDA share of total applications remained unchanged at 0.8% from the week prior.
Average contract rates continue higher
|
|
Rate this week |
Rate last week |
Points this week (for 80% LTV loans) |
Points last week (for 80% LTV loans) |
|
30yr FRM Conforming |
4.83 |
4.75 |
0.53 |
0.46 |
|
30yr FRM Jumbo |
4.74 |
4.70 |
0.37 |
0.35 |
|
30yr FHA |
4.83
|
4.77 |
0.78 |
0.70 |
|
15yr FRM |
4.23
|
4.21 |
0.51 |
0.50 |
|
5/1 ARM
|
4.11 |
4.08 |
0.56 |
0.41 |
