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Mortgage rates were mixed. rnThe 30-year fixed-rate mortgage (FRM) with conforming balances ofrn$417,000 or less had an average contract rate of 4.62 percent, the highestrnsince September, with 0.38 point.  Thernprevious week the rate was 4.61 percent with 0.26 point.  The effective rate also increased. </p

The jumbo 30-year FRM (balances over $417,000) had an averagerncontract rate of 4.61 percent, an increase of 2 basis points from the previousrnweek, and points increased from 0.15 to 0.24. rnThis was also the highest contract rate since September and therneffective rate increased as well.</p

Both the contract and effective rates for 30-year FRM backed by thernFHA were down from the previous week with the contract rate at 4.25 percentrncompared to 4.30 percent.  Points decreasedrnto 0.32 from 0.38. </p

Average rates for 15-year FRM were unchanged at 3.66 percent.  Points increased to 0.35 from 0.31 and therneffective rate rose. .  </p

The share of adjustable rate mortgages remained unchanged at 8rnpercent of total applications.  Both thernaverage contract rate and effective rate of the 5/1 ARM increased with therncontract rate rising 9 basis points to 3.20 percent and points up to 0.42 fromrn0.35.</p

Application volume and rate information are compiled by MBA fromrnits Weekly Mortgage Application Survey which has been conducted since 1990.  Rates are quoted for loans with an 80 percentrnloan-to-value ratio and points include the origination fee.  Base period and value for indexes is Marchrn16, 1990=100.

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