Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
722,032+456
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
7.00%0.01
Mortgage

MBA: Mortgage applications decrease 2.5%

Refinance volume stays afloat

Mortgage applications decreased 2.5% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 13, 2018.

On an unadjusted basis, the index increased 22% from the previous week.

The Refinance Index increased 2% from the previous week. The unadjusted Purchase Index increased 19% from last week and is 1% higher than the same week in 2017, and the seasonally adjusted Purchase Index decreased 5% from one week prior.

The refinance share of mortgage activity increased from last week’s 34.8% to 36.5% of total applications, and the adjustable-rate mortgage share of activity decreased to 6.1% of total applications.

The Federal Housing Administration share increased from last week’s 10% to 10.6%, and the Veterans Affairs' share of applications decreased to 10.2% from 11.3% the prior week.

The Department of Agriculture share of total applications decreased to 0.7% from 0.8% the prior week.

The MBA reported mortgage interest rates for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) increased from last week’s 4.76% to 4.77% this week. 

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $453,100) decreased from 4.68% last week to 4.66%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased from last week’s 4.80% to 4.78% this week.

The average contract interest rate for 15-year fixed-rate mortgages increased from 4.18% to 4.22% this week.

Lastly, the average contract interest rate for 5/1 ARMs decreased to 4.12%, down from 4.13% last week.

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please