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

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Refinance Index vs 30 Yr Fixed</p

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

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Interestrnrates for the week were mixed. The average contract rate for 30-year fixed-raternmortgages (FRM) with conforming balances of $417,500 or less remained unchangedrnat 3.61 percent with points decreasing to 0.38 from 0.41.  The effective loan rate decreased from thernprevious week.</p

Jumborn30-year FRM – loans with balances over $417,500 – rose 10 basis points to 3.88rnpercent with points unchanged at 0.38. rnThe effective rate increased.  </p

The averagerncontract rate for 30-year FRM backed by FHA increased to 3.39 percent with 0.58rnpoint from 3.35 percent with 0.69 point and the effective rate increased.  </p

Thernaverage contract interest rate for 15-year fixed-rate mortgages remainedrnunchanged at 2.88 percent, with points decreasing to 0.27 from 0.39 andrnthe effective rate decreased. .</p

The average contract interest rate for 5/1 adjustable raternmortgages (ARMs) increased to 2.66rnpercent from 2.64 percent, with points decreasing to 0.34 fromrn0.37. The effective rate increasedrnfrom last week.   The ARM share of activity increased torn3 percent of total applications.</p

MBA’s Weekly Application Survey covers over 75 percent ofrnall U.S. retail residential mortgage applications, and has been conductedrnweekly since 1990.  Respondents include mortgage bankers, commercial banksrnand thrifts.  Rates are based on loans with an 80 percent loan-to-valuernratio and points include the origination fee. rnBase period and value for all indexes is March 16, 1990=100.rn

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