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

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Interestrnrates were mixed.  The average contractrninterest rate for 30-year fixed-rate mortgages (FRM) with conforming loanrnbalances ($417,000 or less) was 4.32 percent with 0.42 points compared to 4.33rnpercent with 0.26 points.  The effectivernrate increased from the previous week. The contract rate for jumbo 30-year FRM averagedrn4.37 percent, up from 4.36 percent, and points eased to 0.26 from 0.27.  The effective rate increased.</p

Thirty-yearrnFRM backed by the FHA had a rate increase of 1 basis point to an average of 4.07rnpercent and points increased to 0.22 from 0.17. rnThe effective rate increased. </p

Thernaverage contract interest rate for 15-year fixed-rate mortgages increased torn3.44 percent from 3.42 percent, with points remaining unchanged at 0.30.  The effective rate increased. </p

The sharernof adjustable rate mortgages (ARM) was unchanged from the previous week at 7rnpercent.  The average contract rate forrn5/1 ARMs decreased to 3.08 percent from 3.17 percent, with points decreasing torn0.31 from 0.38 and the effective rate decreased as well.  </p

MBArnreports application volume and interest rate information from its WeeklyrnApplication Survey which has been conducted since 1991.  Interest rates are reported for loans with anrn80 percent loan to value ratio and points include the origination fee.  Base period and value for all indexes isrnMarch 16, 1990=100.

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