Wednesday, July 13, 2016

Mortgage applications rise 7.2 percent in latest survey as rates dip again

The Market Composite Index increased 7.2 percent on a seasonally adjusted basis from one week earlier. The Refinance Index increased 11 percent from the previous week. The seasonally adjusted Purchase Index was unchanged from one week earlier. Last year, the Fourth of July fell on the prior week.

The average contract interest rate for conforming 30-year fixed-rate mortgages decreased to its lowest level since May 2013, 3.60 percent, from 3.66 percent.

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