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The volume of mortgage applications is restored for the week ending July 6 after decreasing over the previous period, according to the Weekly Mortgage Applications Survey released by the Mortgage Bankers Association
. Market Composite Index, a measure of mortgage demand volume, rose 2.5% on a seasonally adjusted basis but fell 18% on an uncorrected basis. The results included an adjustment for the July 4 leave
The refinancing index slipped 4% from the previous period to its lowest level since December 2000. The purchasing index has increased by 7% on a seasonally adjusted basis. unadjusted base. The unadjusted purchase index increased by 8% compared to the level of the previous year.
Requests for refinancing saw their share of activity drop to its lowest level since August 2008. They accounted for 34.8% of total claims. the previous share of 37.2%. The share of variable rate mortgage activity (ARM) declined to 6.3% of the total number of applications
FHA loan applications accounted for 10%, down from 10, 2%. The VA share of the total number of applications increased from 10.7% to 11.3%. USDA claims had a 0.8% share, remaining unchanged from the previous survey.
Changes in average contractual interest rates for various types of mortgages were mixed during the period, with rates for 5/1 ARM increasing to 4.13%, their highest level in the world. survey history, of 4.03%, with points increasing to 0.36 from 0.25. MBA began tracking interest rates on ARM's 5/1 in January 2011.
Rates for the 30-year fixed rate mortgage with compliant loans decreased to 4.76% from 4.79%, with points increasing from 0.41 to 0.43. There was also a drop in rates for 30-year fixed rate mortgages with 4.68% jumbo loan balances of 4.71%, with points falling to 0.24 from 0.43.
The 30-year fixed rate mortgage backed by the FHA posted an average rate of 4.8%, up from 4.78%, with points rising from 0.73 to 0.75 . The average 15-year fixed rate mortgage declined from 4.22% to 4.18%, from 0.47 to 0.46.
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