MBA mortgage applications up slightly
Mortgage applications increased 0.1% from one week earlier, according to data from the Mortgage Bankers Association.
The MBA refinance index decreased 0.7% from the previous week. Refis decreased to 72.6% of total applications from 73.4% the previous week.
The government share of purchase applications remained steady at 37%, a slight increase from a couple of weeks ago when the share was 36.4%. The government share of purchase applications over the last three weeks is at the lowest level since 2009.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances below $418,000 slightly increased to 4.05% from 4.04%. Points increased to 0.44 from 0.4 for 80% loan-to-value mortgages.