by Calculated Risk on 3/27/2013 08:31:00 AM
Wednesday, March 27, 2013
MBA: Mortgage Applications increase in latest survey
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey
The Refinance Index increased 8 percent from the previous week. The seasonally adjusted Purchase Index increased 7 percent from one week earlier.
...
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 3.79 percent from 3.82 percent, with points increasing to 0.44 from 0.38 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
...
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 3.90 percent from 3.95 percent, with points increasing to 0.42 from 0.36 (including the origination fee) for 80 percent LTV loans.
emphasis added
![Refinance Index](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLdvS4EwWlacGnYBOzRyBMcHQ7V5DzkvVPpLLbgHnx6pqbU1CEnGd3MbEl3oOVsAbAioE6MAnZaXHCftpEEKJnyMH0DJZMPXPE-rY_Eaz9l1q4qXudMNbtD5cTnTOU-KZoNj_Hqg/s320/MBARefiMar272013.jpg)
The first graph shows the refinance index.
There has been a sustained refinance boom for over a year.
Refinance activity will probably slow in 2013.
![Purchase Index](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0LDiLKjVf73MGD0ObekWgbr14aWW47l8ycHbqt8g_1O3jUtWRPTBBG9W-HDDPGWRB8IguWybXTvmeQQ49bMQZI_FaSz6qbzps5Nqo0EBtqjl3wZXFZUtkGWoV0Wpnu-cYeqBsag/s320/MBAMar272013.jpg)