Refi Apps at 5-Month Lows

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Posted To: MND NewsWire

Interest rates increased to the highest levels since last fall and the volume of mortgage applications responded as might be expected, falling across the board. The Mortgage Bankers Association (MBA) said its Market Composite Index dropped 5.5 percent on a seasonally adjusted basis during the week ended June 12 and was down 6 percent unadjusted. Refinancing also decreased from the week before. Its index fell 7 percent and the share of all applications that were for refinancing went down to 48.5 percent from 49 percent. The seasonally adjusted Purchase Index decreased 4 percent and the unadjusted Purchase Index 6 percent compared with the previous week. The unadjusted Purchase Index was 15 percent higher than the same week one year ago. Refinance Index vs 30 Yr Fixed Purchase Index vs 30 Yr...(read more)

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Source: http://www.mortgagenewsdaily.com/06172015_application_volume.asp

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