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Mortgage Applications Essentially Unchanged From Last Week
Mortgage Applications Essentially Unchanged From Last Week
Mortgage Applications Essentially Unchanged From Last Week
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Mortgage applications remained at about the same levels as the previous week while mortgage interest rates also showed little movement according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 2nd, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, increased a modest 0.2 percent last week and follows a 3.7 percent decline from the previous week.

On an unadjusted basis, mortgage loan application volume was virtually unchanged from last week after declining by four percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index increased one percent after posting a three percent decline the week before. The unadjusted Purchase Index was also one percent higher than the previous week and was eight percent higher than during the same period last year.

Refinance Applications:

The Refinance Index was unchanged from the previous week after declining by four percent the week before. Refinance activity continued to remain at two-year lows. The refinance share of mortgage activity remained at 63 percent of total applications for the third consecutive week.

Mortgage Interest Rates:
 

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.61

4.58

0.42

0.38

Increased
30-Year FRM Non-Conforming
($417,501 or more)

4.64

4.64

0.34

0.39

Decreased
15-Year FRM

3.66

3.67

0.43

0.40

Decreased
FHA 30-Year

4.33

4.30

0.26

0.31

Increased
5/1 ARM

3.39

3.39

0.37

0.36

Increased

 
The adjustable-rate mortgage (ARM) share of activity remained at around six percent of total applications.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate, FHA mortgage rates

Source:
Mortgage Bankers Association

Reported by Chris Moore

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
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LOAN CENTER WORKS
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

Mortgage applications remained at about the same levels as the previous week while mortgage interest rates also showed little movement according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 2nd, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, increased a modest 0.2 percent last week and follows a 3.7 percent decline from the previous week.

On an unadjusted basis, mortgage loan application volume was virtually unchanged from last week after declining by four percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index increased one percent after posting a three percent decline the week before. The unadjusted Purchase Index was also one percent higher than the previous week and was eight percent higher than during the same period last year.

Refinance Applications:

The Refinance Index was unchanged from the previous week after declining by four percent the week before. Refinance activity continued to remain at two-year lows. The refinance share of mortgage activity remained at 63 percent of total applications for the third consecutive week.

Mortgage Interest Rates:
 

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.61

4.58

0.42

0.38

Increased
30-Year FRM Non-Conforming
($417,501 or more)

4.64

4.64

0.34

0.39

Decreased
15-Year FRM

3.66

3.67

0.43

0.40

Decreased
FHA 30-Year

4.33

4.30

0.26

0.31

Increased
5/1 ARM

3.39

3.39

0.37

0.36

Increased

 
The adjustable-rate mortgage (ARM) share of activity remained at around six percent of total applications.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate, FHA mortgage rates

Source:
Mortgage Bankers Association

Reported by Chris Moore

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

Mortgage applications remained at about the same levels as the previous week while mortgage interest rates also showed little movement according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 2nd, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, increased a modest 0.2 percent last week and follows a 3.7 percent decline from the previous week.

On an unadjusted basis, mortgage loan application volume was virtually unchanged from last week after declining by four percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index increased one percent after posting a three percent decline the week before. The unadjusted Purchase Index was also one percent higher than the previous week and was eight percent higher than during the same period last year.

Refinance Applications:

The Refinance Index was unchanged from the previous week after declining by four percent the week before. Refinance activity continued to remain at two-year lows. The refinance share of mortgage activity remained at 63 percent of total applications for the third consecutive week.

Mortgage Interest Rates:
 

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.61

4.58

0.42

0.38

Increased
30-Year FRM Non-Conforming
($417,501 or more)

4.64

4.64

0.34

0.39

Decreased
15-Year FRM

3.66

3.67

0.43

0.40

Decreased
FHA 30-Year

4.33

4.30

0.26

0.31

Increased
5/1 ARM

3.39

3.39

0.37

0.36

Increased

 
The adjustable-rate mortgage (ARM) share of activity remained at around six percent of total applications.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate, FHA mortgage rates

Source:
Mortgage Bankers Association

Reported by Chris Moore

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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