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

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Refinance Index vs 30 Yr Fixed</p

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

</p

Both contract and effective interestrnrates were up slightly during the week. rnThe rate for a 30-year fixed-rate mortgage (FRM) with a conforming loanrnbalance of $417,500 or less was up one basis point to 3.75 percent with pointsrnincreasing to 0.51 from 0.43.  The jumborn30-year FRM (with a balance over $417,500) increased from 3.99 percent withrn0.28 point to 4.01 percent with 0.32 point. rnThe rate for a conforming 15-year FRM was 3.09 percent with 0.49 point comparedrnto 3.07 percent with 0.45 point  </p

FHA-backed 30-year FRM rates werernunchanged from the previous week at 3.52 percent, remaining at the lowestrncontract rate in survey history.  Pointsrnincreased from 0.52 to 0.55, raising the effective rate.  </p

The largest increase was in 5/1 hybridrnadjustable rate mortgages (ARMs) which increased to 2.73 percent with 0.41rnpoint from 2.68 percent with 0.35 point. rnThe ARM share of application activity decreased to 4.1 percent from thernprevious week.</p

Interest rate information is for mortgagesrnwith loan-to-value ratios of 80 percent and points include the application fee.</p

MBA’s weekly Mortgage Application Surveyrncovers 75 percent of all U.S. retail residential mortgage applications.  It covers mortgage bankers, commercial banks,rnand thrifts and has been conducted since 1990. rnBase period and value for all indexes is March 16, 1990=100.

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