According to The Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances was 4.33 percent last week. The average 30-year rate for jumbo loans increased to 4.64 percent. The Market Composite Index, which measures total loan application volume, was down 14.9 percent after both the Refinance and Purchase Index decreased. In September, purchase applications rose 19.6 percent in the Pacific region, while refinance activity was up in the Mid-Atlantic, East North Central, and New England regions. Wyoming saw the largest gains in purchase activity and Vermont led in refinance applications. More here.
Theresa Springer’s Blog
Mortgage Rates Rise To 4.33 Percent
October 19, 2011
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