WASHINGTON, D.C. (July 5, 2007) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 29, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 619.4, an increase of 0.1 percent on a seasonally adjusted basis from 618.6 one week earlier. On an unadjusted basis, the Index decreased 0.1 percent compared with the previous week and was up 9.7 percent compared with the same week one year earlier. The Refinance Index decreased 2.6 percent to 1687.2 from 1731.6 the previous week and the seasonally adjusted Purchase Index increased 2.0 percent to 437.3 from 428.9 one week earlier. The seasonally adjusted Conventional Index decreased 0.2 percent to 907.2 from 909.2 the previous week, and the seasonally adjusted Government Index increased 4.1 percent to 139.5 from 134.0 the previous week. The four week moving average for the seasonally adjusted Market Index is down 0.2 percent to 637.1 from 638.5. The four week moving average is up 0.2 percent to 445.4 from 444.5 for the Purchase Index, while this average is down 1.0 percent to 1762.6 from 1780.1 for the Refinance Index. The refinance share of mortgage activity decreased to 37.8 percent of total applications from 38.7 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 21.0 from 20.4 percent of total applications from the previous week. The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.50 percent from 6.60 percent, with points increasing to 1.69 from 1.54 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.20 from 6.24 percent, with points increasing to 1.43 from 1.41 (including the origination fee) for 80 percent LTV loans. The average contract interest rate for one-year ARMs decreased to 5.49 from 5.51 percent, with points increasing to 1.17 from 1.14 (including the origination fee) for 80 percent LTV loans. Quelle: http://www.mortgagebankers.org/NewsandMedia/PressCenter/55459.htm Servus, J.B.
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