According to The Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances was unchanged last week at 4.33 percent. The average 30-year rate on jumbo loans increased slightly to 4.68 percent from 4.64 percent the previous week. The Market Composite Index, which measures total mortgage loan application volume, was up 4.9 percent from the week before, as both the Refinance and Purchase indexes saw gains. Refinance demand rose 4.4 percent from the previous week, while purchase application demand was up 6.4 percent. More here and here.

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Jim Crowder

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STE 100

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