The Real Deal Miami

Mortgage application numbers drop

June 17, 2009 12:12PM

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