Home -> Law Blog Directory -> Bailout Blogs -> Calculated Risk

Bailout

: Calculated Risk

MBA: Mortgage Refinance activity increases, Purchase Application activity declines

By Anonymous

The MBA reports: Mortgage Refinance Applications Increase in Latest MBA Weekly Survey

The Refinance Index increased 4.9 percent from the previous week. The seasonally adjusted Purchase Index decreased 3.7 percent from one week earlier.
...
The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.78 percent from 4.82 percent, with points decreasing to 0.91 from 1.10 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.

Click on graph for larger image in new window.

This graph shows the MBA Purchase Index and four week moving average since 1990.

Although there was an increase in existing home sales in December, the four-week moving average of the purchase index suggests weak existing home sales through the first couple months of 2011.

Full post as published by Calculated Risk on January 12, 2011 (boomark / email).