The Market Composite Index, which measures mortgage loan application volume, fell from 611 to 514.4 in the week ending June 12, the Mortgage Bankers Association said in a release Wednesday.
The Refinance Index also fell, dropping 23.3 percent to 1,998.1, the MBA said.
The average interest rate for 30-year, fixed-rate mortgages decreased from 5.57 percent to 5.5 percent with points falling from 1.09 to 0.89, the organization said.
Rates for the average 15-year, fixed-rate mortgage fell from 5.1 percent to 4.99 percent. Points in 15-year, fixed-rate mortgages fell from 1.04 to 0.99.
The average interest rate for one-year adjustable rate mortgages fell from 6.75 percent with an average 0.1 points to 6.54 percent with 0.09 points, the report said.
Copyright 2009 by United Press International.
Hi, We have just added your
Hi,
We have just added your latest post "Mortgage activity declined in week | The Money Times" to our Directory of Mortgage . You can check the inclusion of the post here . We are delighted to invite you to submit all your future posts to the directory and get a huge base of visitors to your website.
Warm Regards
Mortga-ge.info Team
http://www.mortga-ge.info
Post new comment