Move lawsuit against Zillow clears contempt hurdle with settlement

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution

Twitter roundup of this week's top housing articles

CFPB heads up the list

Shaky housing market about to get even shakier

When will we all stop kidding ourselves?
W S
Lending

Mortgage applications steadily decline

Stock tickers
/ Print / Reprints /
| Share More
/ Text Size+

Mortgage applications fell 2.6% for the week ending July 12, an industry trade group said.

Applications have remained on a downward trajectory for the past several weeks with the industry concerned over growing interest rates and the possibility of more increases.

The refinance index alone dipped 4% from the previous week: the lowest level since July 2011, the Mortgage Bankers Association reported.

In addition, the purchase index inched up 1% from last week.

As a whole, the refinance share of mortgage activity posted its lowest level since April 2011, falling to 63% of total applications, compared to 64% the previous week.

Meanwhile, the average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan balance finally halted and remained frozen at 4.68%.

Additionally, the 30-year, FRM jumbo decreased to 4.81%, from 4.86% a week prior.

The average 30-year, FRM backed by the FHA climbed to 4.38%, from 4.37%, the highest rate since April 2012.

The 15-year, FRM dropped to 3.70%, from 3.76%, and the 5/1 ARM edged down to 3.39% from 3.40% a week prior.      

Recent Articles by Brena Swanson

Comments powered by Disqus