June 23, 2005 WASHINGTON --
On
Wednesday the Mortgage Bankers Association divulged data from its Weekly
Mortgage Applications
Survey for week ending June 17. Overall home loan applicant volume saw a
decrease last week of 11.3% when calculated using a seasonally adjustment. The
previous week's tally was 887.0.
The MBA's home purchase index dropped by 9.4% to reach the
479.4 level. This figure is down overall from 529.3 measured the prior week. The
refinancing index saw a more substantive drop of 13.2%, landing
it at 2575.0 comparatively to 2967.4 one week prior.
After a surge two weeks ago, the home refinance portion of
overall mortgage application activity decreased to 45.6%, down from 46.4 percent
one week earlier. ARMs decreased to 30.7% of application activity from 30.9%
reported by the MBA last week.
National averages for discount points on
30-year fixed interest rates dropped
from 1.125 points to 1.17 for 80 percent LTV home loans. Average points for
15-year fixed conventional
loans decreased to 1.20 from 1.32 for the same LTV. -
Column by Nolan Voight
for CMR Original News.
E-mail Friend
Printer Friendly