Mortgage applications climb, as rates hold steady

New York /
Jan.January 23, 2013 11:00 AM

The number of mortgage applications for the week ending January 18, 2013 increased 7 percent on a seasonally adjusted basis from the week ending January 11, 2013, the Mortgage Bankers Association announced today.

The Refinance Index increased 8 percent from the previous week on a seasonally adjusted and unadjusted basis. The seasonally adjusted Purchase Index increased 13 percent from one week earlier to the highest level since April 2011. Unadjusted, the Purchase Index increased 3 percent to its highest level since May of 2010, immediately following the expiration of the homebuyer tax credit.

The share of refinancing activity remained constant at 82 percent of total applications. The adjustable-rate mortgage share of activity also held steady from last week at 4 percent of total applications.

Interest rates for 30-year fixed-rate loans with conforming balances increased to 3.62 percent from 3.61 percent. However, jumbo loan rates decreased to 3.85 percent from 3.88 percent. Rates for Federal Housing Administration-backed 30-year fixed-rate loans increased to 3.40 percent from 3.39 percent — an effective decrease from last week — and 15-year fixed-rate mortgages decreased to 2.87 percent from 2.88 percent — an effective increase. —Christopher Cameron


Related Articles

arrow_forward_ios
A photo illustration of Vishal Garg, chief executive officer, Better.com (Better.com, iStock)
Better.com CEO returns to role after Zoom layoffs controversy
Better.com CEO returns to role after Zoom layoffs controversy
(iStock/Illustration by Steven Dilakian for The Real Deal)
Black mortgage applicants’ rejection disparity surges
Black mortgage applicants’ rejection disparity surges
Milo Founder and CEO Josip Rupena (iStock, Milo Credit)
Crypto-rich but can’t buy a home? Now you can
Crypto-rich but can’t buy a home? Now you can
Germany tightens mortgage lending to reel in soaring housing prices (iStock)
Germany tightens mortgage lending to reel in soaring housing prices
Germany tightens mortgage lending to reel in soaring housing prices
(Illustration by The Real Deal)
More than 14K LI residents in mortgage delinquency
More than 14K LI residents in mortgage delinquency
(iStock)
Mortgage rates hit 20-month high
Mortgage rates hit 20-month high
Report: U.S. rents surged 7% from October to November
Report: U.S. rents surged 7% from October to November
Report: U.S. rents surged 7% from October to November
Better.com CEO Vishal Garg
Better.com CEO “taking time off” after layoff saga
Better.com CEO “taking time off” after layoff saga
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...