Mortgage applications shoot up 11.2% | Katonah NY Real Estate

Mortgage applications shifted gears, increasing 11.2% from a week earlier, the Mortgage Bankers Association said this week.

Meanwhile, the refinance index grew 18% from the prior week, while the purchase index rose 3%.

As a whole, the refinance share of mortgage activity inched back up to 61% of total applications, up from 57% a week earlier.

The average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan limit dropped to 4.75% from 4.80%.

Furthermore, the 30-year, FRM jumbo edged down to 4.83% from 4.84%.

The average 30-year, FRM backed by the FHA fell to 4.50% from 4.56%, and the 15-year, FRM declined to 3.81% from 3.83%.

Meanwhile, the 5/1 ARM plummeted to 3.54% from 3.59% a week earlier.

 

 

http://www.housingwire.com/articles/26891-mortgage-applications-shoot-up-112

Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.

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