Mortgage applications up 2.5 percent in weekly survey due to purchase loans, refinances dip

The Market Composite Index increased 2.5 percent on a seasonally adjusted basis from one week earlier, with purchase loans rising 7.0 percent but refinance activity falling 4.0 percent. The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.76 percent.

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Mortgage applications rise 0.3 percent due to refinances, rates edge up to 4.65 percent

The Market Composite Index increased 0.3 percent on a seasonally adjusted basis from one week earlier, with purchase loans falling 1.0 percent and refinances rising 2.0 percent. The average contract interest rate for 30-year fixed-rate mortgages increased to its highest level since January 2014, 4.65 percent.

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Mortgage applications rise 0.6 percent in latest survey

The Market Composite Index increased 0.6 percent on a seasonally adjusted basis from one week earlier, with purchase loans falling 2 percent and refinances up 2 percent. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged at 4.13 percent.

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BuilderBytes' MetroIntelligence Economic Update for 2/10/12

Please click here to see the edition of BuilderBytes for 2/10/12 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Initial unemployment claims fall by 15,000 in most recent survey to 358,000
• Wholesale trade up by 1.3% in December as inventories rise by 1.0%
• Refinance activity increases as rates hit survey lows
  

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