Mortgage applications dropped 15.8 percent for the week ending June 12
compared to the previous week, according to numbers released today by
the Mortgage Bankers Association. Year-over-year, mortgage applications
increased 0.3 percent. The association’s refinance index fell 23.3
percent week-over-week and 3.5 percent year-over-year. The average
interest rate for a 30-year fixed-rate mortgage dropped to 5.5 percent
from 5.57 the previous week. TRD [more]