According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance activity increased 13.5 percent last week and pushed the refinance share of all mortgage activity up to 75.2 percent. The spike in refinance activity helped the Market Composite Index, which measures total mortgage application volume, climb 6.9 percent from the week before despite a 11.2 percent drop in the Purchase Index. Jay Brinkmann, MBA’s chief economist, said a drop in rates last week led to the boom in refinance applications. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 4.05 percent from 4.10 percent the week before. The drop in rates tied a survey low reached in early February. Also in the report, the average loan size of all loans for home purchase was $233,381 in March, up from $225,463 in February. More here.
"Story Time" Newsletters
- WARMUP WITH THESE POPULAR COLORADO JANUARY EVENTS
- DECEMBER 2023 GUIDE TO HOLIDAY LIGHT SHOWS, SANTA VISITS, SEASONAL FOOD & DRINK, PARADES, AND MORE!
Ranging from easy to advanced, dirt to paved, flat roads to steep grades, there are bike trails to match the riding experience you're looking for.
- PIONEERING WOMEN OF BOULDER, CO
Ranging from easy to advanced, dirt to paved, flat roads to steep grades, there are bike trails to match the riding experience you're looking for.
- FANTASTIC FALL FUN EVENTS IN COLORADO
Ranging from easy to advanced, dirt to paved, flat roads to steep grades, there are bike trails to match the riding experience you're looking for.
- CARNEGIE LIBRARIES: The Future Made Bright
THERE'S A LONG HISTORY of wineries in Colorado. Grape vines found their way into Colorado by way of European settlers who had come to work the mines in Pueblo and Canon City during the Colorado gold rush over a century ago.
- Celebrate Colorado Peaches and their History at these 3 Festivals!
THERE'S A LONG HISTORY of wineries in Colorado. Grape vines found their way into Colorado by way of European settlers who had come to work the mines in Pueblo and Canon City during the Colorado gold rush over a century ago.
- Colorado Wine – Rooted in History
THERE'S A LONG HISTORY of wineries in Colorado. Grape vines found their way into Colorado by way of European settlers who had come to work the mines in Pueblo and Canon City during the Colorado gold rush over a century ago.