Thursday, April 08, 2004

Mortgage Bankers Association reports on real estatealoan applications

The Mortgage Bankers Association reports that loan applications for home purchases has increased, while applications for refinances has decreased.

The Mortgage Bankers Association also reports on interest rates as follows:
"The average contract interest rate for 30-year fixed-rate mortgages increased to 5.75 percent from 5.49 percent from one week earlier, with points decreasing to 1.27 from 1.29 the previous week (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans."
and
"The average contract interest rate for 15-year fixed-rate mortgages increased to 5.03 percent from 4.75 percent one week earlier, with points increasing to 1.40 from 1.31 the previous week (including the origination fee) for 80 percent LTV loans. "

For the full report, click here

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