by Bill McBride on 2/06/2013 08:43:00 AM
Wednesday, February 06, 2013
The Refinance Index increased 4 percent from the previous week. The seasonally adjusted Purchase Index increased 2 percent from one week earlier was at its highest level since the week ending May 7, 2010. ...Click on graph for larger image.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 3.73 percent from 3.67 percent, with points increasing to 0.43 from 0.42 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The contract interest rate for 30-year fixed mortgages has increased for seven of the last eight weeks.
This graph shows the MBA mortgage purchase index.
The purchase index has increased in all but one week this year, and is now at the highest level since May 7, 2010 - and that was a spike related to the housing tax credit. The 4-week average of the purchase index is also at the highest level since May 2010.
Posted by Bill McBride on 2/06/2013 08:43:00 AM