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Mortgage Volume Remains Largely Unchanged
Mortgage applications slipped 1.2 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.

On an unadjusted basis, the index increased 0.6 percent compared with the previous week.

The seasonally adjusted purchase index decreased 7 percent from one week earlier. On an unadjusted basis, the purchase index decreased 1.1 percent compared with the previous week and was down 7.5 percent compared to the same week a year ago.

Interest rates declined compared to the previous week:
  • 30-year fixed-rate mortgages decreased to 4.94 percent from 5.01 percent.
  • 15-year fixed-rate mortgages remained unchanged at 4.33 percent.
  • 1-year ARMs decreased to 6.68 percent from 6.70 percent.

Source: Mortgage Bankers Association

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