MBA: Mortgage Applications decrease slightly in Latest Weekly Survey 2013

2013 2013 2013 From the MBA: <a href="http://www.mortgagebankers.org/NewsandMedia/PressCenter/">Mortgage Applications Decrease in Latest MBA Weekly Survey</a><br /><blockquote>The Refinance Index decreased 1 percent from the previous week driven by a 12 percent drop in the Government Refinance index while the Conventional Refinance index rose by 2 percent. <b>The Refinance Index is at the lowest level since July 2011</b>. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier.<br />...<br />The refinance share of mortgage activity remained unchanged at 63 percent of total applications.<br />...<br />The average contract interest rate for <b>30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 4.58 percent</b> from 4.68 percent, with points decreasing to 0.40 from 0.42 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.<br /><span style="font-size: x-small;">emphasis added</span></blockquote><a href="http://3.bp.blogspot.com/-Ea6zS-Fpios/Ue9dmH7642I/AAAAAAAAbMQ/Alg5_CWZ-So/s1600/MBARefiJuly232013.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Mortgage Refinance Index" border="0" src="http://3.bp.blogspot.com/-Ea6zS-Fpios/Ue9dmH7642I/AAAAAAAAbMQ/Alg5_CWZ-So/s320/MBARefiJuly232013.jpg" style="border: 1px solid rgb(0, 0, 0); float: right; margin: 10px;" /></a> <i><b><span style="font-size: 85%;">Click on graph for larger image.</span></b></i><br /><br />The first graph shows the refinance index.<br /><br />With 30 year mortgage rates&nbsp;above 4.5%, refinance activity has fallen sharply,&nbsp;decreasing in 10&nbsp;of the last 11&nbsp;weeks.<br /><br />This&nbsp;index is down 55% over the last&nbsp;eleven weeks.<br /><br /><a href="http://2.bp.blogspot.com/-Jd_bMRLKCO4/Ue9diJjYj8I/AAAAAAAAbMI/GFiz6oRIs_0/s1600/MBAJuly2232013.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Mortgage Purchase Index" border="0" src="http://2.bp.blogspot.com/-Jd_bMRLKCO4/Ue9diJjYj8I/AAAAAAAAbMI/GFiz6oRIs_0/s320/MBAJuly2232013.jpg" style="border: 1px solid rgb(0, 0, 0); float: right; margin: 10px;" /></a> The second graph shows the MBA mortgage purchase index.&nbsp; The 4-week average of the purchase index has generally been trending up&nbsp;over the last year (but down over the last several weeks), and&nbsp;the&nbsp;4-week average of the&nbsp;purchase index is up&nbsp;about 6% from a year ago.<br> 2013 2013 2013 <br>From the MBA: <a href="http://www.mortgagebankers.org/NewsandMedia/PressCenter/">Mortgage Applications Decrease in Latest MBA Weekly Survey</a><br /><blockquote>The Refinance Index decreased 1 percent from the previous week driven by a 12 percent drop in the Government Refinance index while the Conventional Refinance index rose by 2 percent. <b>The Refinance Index is at the lowest level since July 2011</b>. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier.<br />...<br />The refinance share of mortgage activity remained unchanged at 63 percent of total applications.<br />...<br />The average contract interest rate for <b>30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 4.58 percent</b> from 4.68 percent, with points decreasing to 0.40 from 0.42 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.<br /><span style="font-size: x-small;">emphasis added</span></blockquote><a href="http://3.bp.blogspot.com/-Ea6zS-Fpios/Ue9dmH7642I/AAAAAAAAbMQ/Alg5_CWZ-So/s1600/MBARefiJuly232013.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Mortgage Refinance Index" border="0" src="http://3.bp.blogspot.com/-Ea6zS-Fpios/Ue9dmH7642I/AAAAAAAAbMQ/Alg5_CWZ-So/s320/MBARefiJuly232013.jpg" style="border: 1px solid rgb(0, 0, 0); float: right; margin: 10px;" /></a> <i><b><span style="font-size: 85%;">Click on graph for larger image.</span></b></i><br /><br />The first graph shows the refinance index.<br /><br />With 30 year mortgage rates&nbsp;above 4.5%, refinance activity has fallen sharply,&nbsp;decreasing in 10&nbsp;of the last 11&nbsp;weeks.<br /><br />This&nbsp;index is down 55% over the last&nbsp;eleven weeks.<br /><br /><a href="http://2.bp.blogspot.com/-Jd_bMRLKCO4/Ue9diJjYj8I/AAAAAAAAbMI/GFiz6oRIs_0/s1600/MBAJuly2232013.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Mortgage Purchase Index" border="0" src="http://2.bp.blogspot.com/-Jd_bMRLKCO4/Ue9diJjYj8I/AAAAAAAAbMI/GFiz6oRIs_0/s320/MBAJuly2232013.jpg" style="border: 1px solid rgb(0, 0, 0); float: right; margin: 10px;" /></a> The second graph shows the MBA mortgage purchase index.&nbsp; The 4-week average of the purchase index has generally been trending up&nbsp;over the last year (but down over the last several weeks), and&nbsp;the&nbsp;4-week average of the&nbsp;purchase index is up&nbsp;about 6% from a year ago.<br>2013 2013 2013 <br> <a href="http://www.matrixar.com/" title="Matrix ">المصفوفة : أجمل الخلفيات والصور</a>