Mortgage Applications Look Ugly

Posted By on March 21, 2012

Not so good for mortgages…the Average 30 year fixed rate soared to 4.19% from 4.06% last week, while the refi percent of loans dropped to 73.4% – the lowest since July 2011.

The latest MBA Mortgage Application data was just released and it was ugly. The broad Mortgage Application index fell by 7.4% in the week ending March 16, when rates experienced the bulk of the move downward, which was the 6th consecutive week of declines, following last week’s 2.4% drop. And while refis have been down for 5 weeks in a row, with the index 9.3% lower as higher rates have now effected interest in mortgages, so have purchase applications. The MBA Purchasing index also was down 4.4%, breaking a trend of 3 weeks of gains. Some other hard statistics: the Average 30 year fixed rate soared to 4.19% from 4.06% last week, while the refi percent of number of loans dropped to 73.4% – the lowest since July 2011.

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One Response to “Mortgage Applications Look Ugly”

  1. Traiteur Rabat Regal; Traiteur de ronome au Maroc

    Traiteur Rabat Regal au Maroc

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