ChartManager.loadChart(‘purchaseappschart’, ‘PurchaseMtgAppChart’);

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Refinance Index vs 30 Yr Fixed</p

ChartManager.loadChart(‘refiappschart’, ‘RefiMtgAppChart’);

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Rates forrnmortgage loans with 80 percent loan-to-value ratios were mixed.  The average contract  rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increasedrnto 3.62 percent from 3.61 percent, with points, (which in allrncases include the origination fee) increasing to 0.43 from 0.38.rn The contract interest rate for 30-yearrnfixed mortgages has increased for five of the last six weeks.  Therneffective rate increased from lastrnweek.</p

The average contract interest rate for 30-year fixed-raternmortgages (FRM) with jumbo loan balances (greater than $417,500) decreased torn3.85 percent from 3.88 percent, with points decreasing to 0.34rnfrom 0.38 and the effective rate decreased from last week.</p

The raternfor 30-year FRM backed by the FHA increased to 3.40 percent with 0.53 pointrnfrom 3.39 percent with 0.58 point.  Therneffective rate decreased from the previous week.</p

The 15-year FRM rate decreased to 2.87 percent from 2.88rnpercent, with points increasing to 0.39 from 0.27 and the effective rate increased. </p

The average contract interest rate for 5/1 adjustable raternmortgages (ARMs) decreased to 2.61 percent from 2.66 percent, withrnpoints decreasing to 0.32 from 0.34 andrnthe effective rate was down.  Applicationsrnfor ARMs were up slightly to 4 percent of all applications. </p

Informationrnon rates and application volume are derived from MBA’s Weekly MortgagernApplications Survey which has been conducted since 1990.   Respondents include mortgage bankers,rncommercial banks and thrifts.  Base period and value for all indexes isrnMarch 16, 1990=100.</p

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