• Ocwen7.29-0.15 -2.02%
  • Zillow24.595-0.065 -0.264%
  • Trulia47+0 +0%
  • NationStar16.12-0.60 -3.59%
  • CoreLogic37.11-0.84 -2.21%
  • RE/MAX36.31-0.37 -1.01%
  • Fannie Mae2.32-0.05 -2.11%
  • Freddie Mac2.23-0.03 -1.33%
  • Wells Fargo51.655-1.675 -3.141%
  • CitiMortgage51.25-2.23 -4.17%
  • Bank of America15.785-0.555 -3.397%
  • Lennar49.80-1.10 -2.16%
  • Fidelity National Financial36.30-0.11 -0.30%
  • D.R. Horton29.59-0.78 -2.57%
  • PulteGroup20.02-0.67 -3.24%
  • First American38.14-0.72 -1.85%
  • AUDUSD=X0.7034-0.0077 -1.0760%
  • USDJPY=X119.9300-1.3050 -1.0764%
  • 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Your email address will not be published.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=""> <s> <strike> <strong>

Scroll To Top