Julián Castro sworn in, spends first day as HUD Secretary

Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line

It’s official: Zillow will own Trulia

"Better agents make for better advertisers"
W S

Volatile mortgage application filings drop as rates fall below 5%

/ Print / Reprints /
| Share More
/ Text Size+
The volume of mortgage applications filed in the past week fell 6.5% after experiencing a 10% surge a week earlier, the Mortgage Bankers Association said Wednesday. A survey of loan applications for the week ended Feb. 25 shows the market composite index -- a measure of loan volume -- decreasing 6.5% on a seasonally adjusted basis when compared to a week ago. On an unadjusted basis the index decreased 5.5% compared with the previous week. The four-week moving average for the seasonally adjusted market index is down 2.5% after rising almost 2% a week earlier, while the four-week moving averages for the purchase index and refinance index are down 2.2% and 2.7%, respectively. Refinancing activity during the period fell to 64.9% of total applications, compared to 65.7% a week earlier. Meanwhile, the average interest rate for a 30-year, fixed mortgage dropped to 4.84% from 5% a week earlier. In addition, the average rate for a 15-year, fixed mortgage declined to 4.17% from 4.28%. Write to Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus