• Ocwen1.74+0.17 +10.83%
  • Zillow35.38+0.79 +2.28%
  • Trulia47+0 +0%
  • NationStar11.87+0.50 +4.40%
  • CoreLogic37.80+0.08 +0.21%
  • RE/MAX41.99+0.16 +0.38%
  • Fannie Mae2.095+0.065 +3.202%
  • Freddie Mac1.90+0.06 +3.26%
  • Wells Fargo47.91+0.94 +2.00%
  • CitiMortgage44.46+1.78 +4.17%
  • Bank of America14.04+0.43 +3.16%
  • Lennar46.58+0.61 +1.33%
  • Fidelity National Financial35.77+0.79 +2.26%
  • D.R. Horton31.29+0.50 +1.62%
  • PulteGroup19.16+0.29 +1.54%
  • First American39.14+1.05 +2.76%
  • AUDUSD=X0.7401-0.0236 -3.0947%
  • USDJPY=X102.9955-3.6195 -3.3949%
  • WP Stock Ticker
To show sotck chart
Home >> News >> Origination >> Mortgage Applications Increase with Slight Rate Drop
Print This Post Print This Post

Mortgage Applications Increase with Slight Rate Drop

Mortgage Applications Increase with Slight Rate Drop

A drop in mortgage rates paved the way for a rise in applications last week, the ""Mortgage Bankers Association"":http://mbaa.org/default.htm (MBA) reported.

[IMAGE] [COLUMN_BREAK]

According to the group's Weekly Mortgage Applications Survey, the Market Composite Index, a measure of loan application volume, rose 7.7 percent for the week ending March 22. On an unadjusted basis, the index increased 8 percent week-over-week.

The Refinance Index also increased, jumping 8 percent compared with the previous week. Refinance share remained flat at 75 percent of total applications, MBA reported.

Meanwhile, the Purchase Index increased 7 percent on a weekly basis (both adjusted and unadjusted). Compared to the same time in 2012, last week's index was 10 percent higher.

By MBA's measure, the average contract interest rate for a 30-year fixed-rate mortgage was 3.79 percent last week, down from 3.82 percent previously.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Scroll To Top