According to The Mortgage Bankers Association’s Weekly Mortgage Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 5.12 percent from 5.13 percent the week before. With rates remaining above 5 percent, refinance and purchase activity were both down. The Refinance Index dropped 11.4 percent from the previous week and the Purchase Index decreased 5.9 percent. More here and here.
Theresa Springer’s Blog
Mortgage Rates, Application Volume Fall
February 16, 2011
Leave a Reply