Mortgage applications fall - Austin Business Journal:

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percent. In its Weeklh Mortgage Applications Survey, the D.C.-based Mortgage Bankers Association said the fall is the biggessince February. Refinancing slumped to the lowest leveol inseven months. In the week ending June 26 the Refinanced Index fell 30 percent from one week The Refinance Index is at its lowesyt level sinceNovember 2008. The average contractf interest ratefor 30-year fixed-rate mortgagex decreased to 5.34 percent from 5.44 with points increasing to 1.12 from 0.99 (includinvg the origination fee) for 80 percent loan-to-valued ratio loans. The average contract interes ratefor 15-year fixed-rate mortgages decreased to 4.81 percen from 4.93 percent, with points increasing to 1.
04 from 0.92 (includinfg the origination fee) for 80 percent LTV loans. The surve y covers over 50 percent ofall U.S. retai l residential mortgage applications, and has been conductedr weeklysince 1990.