Stacie Hartman

The Mortgage Blog of Stacie Hartman

Purchase Demand Stable Over Past Four Weeks

According to The Mortgage Bankers Association’s Weekly Applications Survey, total mortgage loan application volume fell last week, as the average contract interest rate for 30-year fixed-rate mortgages rose from 4.84 percent to 4.85 percent. The Purchase Index was down 2.5 percent from a week earlier while the Refinance Index fell 24.6 percent. Michael Fratantoni, MBA’s vice president of research and economics, said refinance activity continues to fall with rates near six-month highs while purchase applications, though down for a second week, remain little changed over the past month. The Purchase Index’s four-week average is down just 1.2 percent. More here and here.

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