Wednesday, May 31, 2017

Mortgage applications fall 3.4 percent in latest survey, rates flat

The Market Composite Index, a measure of mortgage loan application volume, decreased 3.4 percent on a seasonally adjusted basis from one week earlier, with purchase loans falling one percent and refinances down by four percent.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) remained unchanged at 4.17 percent.

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