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Questions? Let's Talk: 877.762.4375
According to the mortgage Bankers Association’s Weekly Applications Survey, the seasonally adjusted Purchase Index increased 2.1 percent from the week before as average mortgage rates dipped. Despite the continued improvement in demand for loan applications to purchase homes, the Market Composite Index, which measures total mortgage loan demand, was down 1.2 percent. Also, the Refinance Index fell 2.0 percent from the week before. The average Contract interest rate for 30-year fixed-rate mortgages with Conforming loan balances fell to 4.06 percent from 4.07 percent the previous week. The 30-year rate for jumbo loans was down to 4.33 percent. More here.
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