June 29, 2005 WASHINGTON -- Home loan interest rates
have been teetering on 14-month lows steadfastly as of late. Nonetheless,
overall
mortgage application volume nationally dropped a smidgen in the week ending
June 24 according to industry analytics leader, the Mortgage Bankers
Association.
The MBA's weekly application volume index for mortgage
originations showed a 1.1 decrease last week. Not the space shuttle as far as
numbers are concerned, but it leaves us asking questions nonetheless.
Applications for
home purchase loans
throughout the U.S. lessened by 0.4 percent. Overall applicants for refinance
and equity-based mortgages fell by 1.8 percent.
According to the MBA, the moving average of mortgage volume is
off 0.2 percent for a four-week time span. Over the period, calculations show
purchase applications are down by 0.4 percent and refinances upward slightly to
0.1 percent.
Refinance mortgage volume last week claimed 45.4 percent of total
applications, down a bit from the previous week's 45.6 percent. ARM loan
applications (adjustable-rate mortgages) took a 30.0 percent share of total
applications versus 30.7 percent the prior period.
National interest rate averages for
30-year fixed interest and
15-year fixed-rate
mortgages dropped to 5.47 percent and 5.06 percent, respectively, when
compared to 5.63 percent and 5.24 percent in the week before. - Article by
Guy Weiss for CMR Original
Syndicated News.
E-mail Friend
Printer Friendly