Mortgage Applications Off Slightly Last Week
The Refinance Index decreased 3.2% from the previous week.
The Conventional Index decreased 2.3% from the previous week, and the Government Index increased 4%.
The refinance share of mortgage activity decreased to 49.1% of total applications from 49.6% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 14.2% from 14.7% of total applications from the previous week.
The average contract interest rate for 30-year fixed-rate mortgages increased to 6.16% from 6.15%, with points increasing to 1.08 from 1.05 (including the origination fee) for 80% loan-to-value (LTV) ratio loans.
The average contract interest rate for 15-year fixed-rate mortgages decreased to 5.77% from 5.79%, with points remaining unchanged at 1.10 (including the origination fee) for 80% LTV loans.
The average contract interest rate for one-year ARMs increased to 5.94% from 5.93%, with points decreasing to 0.9 from 0.93 (including the origination fee) for 80% LTV loans.