MBA: Refinance Demand Making a Comeback?
The
Mortgage Bankers Association reports that during the week ending April 1,
mortgage applications rose 2.7 percent from the previous week. Although the purchase
index fell 2 percent during that period, the refinance index rose 7 percent.
Refinances accounted for 54.5 percent of total applications, up from 52.4
percent during the previous week. The share of applications slipped from 11.5
percent to 11.3 percent for Federal Housing Administration (FHA) loans, from
12.9 percent to 12.2 percent for Veterans Affairs loans, and from 0.9 percent
to 0.8 percent for U.S. Department of Agriculture loans. Meanwhile the average
contract interest rate fell from 3.94 percent to 3.86 percent for 30-year
fixed-rate mortgages with conforming loan balances, from 3.82 percent to 3.76
percent for 30-year fixed-rate mortgages with jumbo loan balances, from 3.76
percent to 3.73 percent for 30-year fixed-rate mortgages backed by the FHA,
from 3.19 percent to 3.10 percent for 15-year fixed-rate mortgages, and from
3.07 percent to 2.94 percent for 5/1 adjustable-rate mortgages.
From "MBA: Refinance Demand Making a Comeback?"
HousingWire (04/06/16)
Swanson, Brena
No comments:
Post a Comment