As interest rates decline, applications leap

New York /
Mar.March 27, 2013 11:00 AM

The number of mortgage applications for the week ending March 27, 2013  increased 7.7 percent on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association announced today. On an unadjusted basis, the Index increased 8 percent compared with the previous week.

The Refinance Index decreased 8 percent from the previous week and the seasonally adjusted Purchase Index decreased 4 percent from one week earlier. Unadjusted, the Purchase Index decreased 3 percent compared with the previous week and was 6 percent higher than the same week one year ago.

The refinance share of mortgage held at 75 percent of total applications. The adjustable-rate mortgage share of activity held at 5 percent of total applications.

Interest rates for 30-year fixed-rate loans with conforming balances decreased to 3.79 percent from 3.82 percent. Interest rates for jumbo loans also decreased to 3.9 percent from 3.95 percent. Rates for Federal Housing Administration-backed 30-year fixed-rate loans decreased to 3.51 percent from 3.53 percent and 15-year fixed-rate mortgages stayed at 3.02 percent. —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...