Blogatative Easing: Ben Bernanke, Brookings blogger

Blogatative Easing: Ben Bernanke, Brookings blogger

Return to the scene of the crime?

Mortgage brokers: Update your stump speech on mortgage lending, Mr. President

NAMB says mortgage brokers have been at forefront of reform

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution
W S
Lending / The Ticker

Mortgage application filings tumble 13.5%

home loans

Mortgage application filings fell 13.5% from a week earlier during the survey period ending Sept. 6, the Mortgage Bankers Association reported Wednesday.

Mirroring this downward trend, the MBA refinance index also dropped 20% from the previous week, reaching its lowest level since June 2009.

Overall, the refinance share of mortgage activity dropped to 57% of all mortgage applications, down from 61% a week earlier. The refinance index alone has fallen 71% from its recent peak in early May, and is now at its lowest level since June 2009.

The average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan limit increased to 4.80% from 4.73%.

Furthermore, the 30-year, FRM jumbo grew to 4.84% from 4.71%.

The average 30-year, FRM backed by the FHA rose to 4.56% from 4.48% a week ago.

Additionally, the 15-year, FRM increased to 3.83% from 3.75%, and the 5/1 ARM rose to 3.59% from 3.49% last week.

Recent Articles by Brena Swanson

Comments powered by Disqus