Mortgage applications fall - Houston Business Journal:

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percent. In its Weekly Mortgage Applications Survey, the D.C.-based Mortgage Bankers Association said the fall is the biggestsince February. Refinancing slumped to the lowesr level inseven months. In the week ending June 26 the Refinanc e Index fell 30 percent from one week The Refinance Index is at its lowest level sinceNovember 2008. The average contracy interest ratefor 30-year fixed-rate mortgages decreased to 5.34 percenr from 5.44 percent, with points increasing to 1.12 from 0.99 (includingv the origination fee) for 80 percent loan-to-valuer ratio loans. The average contract interestt ratefor 15-year fixed-rate mortgages decreased to 4.81 percent from 4.
93 with points increasing to 1.04 from 0.92 (including the originatiohn fee) for 80 percent LTV loans. The survey covers over 50 percent ofall U.S. retail residentialp mortgage applications, and has been conducted weeklgsince 1990.