Wednesday, August 8, 2012

MBA Weekly Application Survey



The latest Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending August 3, 2012 -- was released August 8.


Application Volume

  • The Market Composite Index, a measure of mortgage loan application volume, decreased 1.8% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 2% compared with the previous week.

  • The Refinance Index decreased 2% from the previous week.  The refinance share of mortgage activity was unchanged from last week at 81% of total applications.

  • The seasonally adjusted Purchase Index decreased 1% from a week earlier.  The unadjusted Purchase Index decreased 2% compared with the previous week and was 12% lower than the same week one year ago.


Interest Rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 3.76% from 3.75%.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) increased to 4.04% from 4.01%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.54% from 3.52%.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.08% from 3.09 %, with points decreasing to 0.41 from 0.49 (including the origination fee) for 80% LTV loans.

* * *

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

For additional information, visit MBA's web site: www.mortgagebankers.org.




No comments:

Post a Comment