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

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Refinance Index vs 30 Yr Fixed</p

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

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Interest rates were mixed. rnThe average contract interest rate for 30-year fixed-rate mortgagesrn(FRM) with conforming balances ($417,500 or less), was down to 4.31 percentrnwith 0.49 point from 4.33 percent with 0.47 point.  All points include origination fees.  The effective rate increased. The rate forrnloans with jumbo balances increased one basis point to 4.69 percent with pointsrnincreasing to 0.45 point from 0.42.  Therneffective rate also increased.</p

Thirty-year FRM backed by FHA had a rate decrease to 4.09rnpercent from 4.11 percent with points dropping to 0.51 from 0.61.  The effective rate also decreased.  </p

Therncontract rate for 15-year FRM increased to 3.63 percent from 3.62 percent withrnpoints unchanged at 0.45.  Therneffective rate also increased from last week.  </p

The 5/1rnadjustable rate mortgage (ARM) lost 2 basis points, averaging 3.09 percent withrnpoints unchanged at 0.50.  The effectivernrate decreased.  </p

Allrnrate information is based on loans with an 80 percent loan-to-value ratio.</p

Thernsurvey covers over 75 percent of all U.S. retail residential mortgagernapplications, and has been conducted weekly since 1990. Respondents includernmortgage bankers, commercial banks and thrifts.  Base period and value forrnall indexes is March 16, 1990=100.

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