• Ocwen10.26+1.77 +20.85%
  • Zillow97.73+0.09 +0.09%
  • Trulia+0 +0%
  • NationStar25.71+0.61 +2.43%
  • CoreLogic39.03-0.08 -0.20%
  • RE/MAX34.33+0.54 +1.60%
  • Fannie Mae2.82+0.11 +4.06%
  • Freddie Mac2.73+0.11 +4.20%
  • Wells Fargo55.19+0.09 +0.16%
  • CitiMortgage53.76+0.44 +0.83%
  • Bank of America16.11+0.18 +1.13%
  • Lennar46.82+1.02 +2.23%
  • Fidelity National Financial35.91-0.08 -0.22%
  • D.R. Horton25.79+0.39 +1.54%
  • PulteGroup19.62+0.32 +1.66%
  • First American34.95+0.16 +0.46%
  • AUDUSD=X0.7851+0.0000 +0.0000%
  • USDJPY=X120.2050+0.0000 +0.0000%
  • 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.


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Your email address will not be published.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 *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Scroll To Top