Market Highlights- The Market Composite Index, a measure of mortgage loan application volume, was 493.1, an increase of 10.9 percent on a seasonally adjusted basis from 444.8 one week earlier.
- The Refinance Index increased 15.2 percent to 1707.7 from 1482.2 the previous week and the seasonally adjusted Purchase Index increased 6.7 percent to 285.6 from 267.7 one week earlier.
- The four week moving average for the seasonally adjusted Market Index is down 5.6 percent.
- The four week moving average is up 1.4 percent for the seasonally adjusted Purchase Index, while this average is down 10.9 percent for the Refinance Index.
- The refinance share of mortgage activity increased to 48.4 percent of total applications from 46.4 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages remained unchanged at 5.34 percent, with points increasing to 1.13 from 1.12 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
- The average contract interest rate for 15-year fixed-rate mortgages increased to 4.83 percent from 4.81 percent, with points increasing to 1.06 from 1.04 (including the origination fee) for 80 percent LTV loans.
Source: Mortgage Bankers Association
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 Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments. |
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