Mortgage applications are decreased to 1.2% last week when compared with the previous week according to the weekly review by the Mortgage Bankers Association or MBA.
The purchased applications are decreased to 2.3 % and they were 36.8% lower than they were the same week last year on an adjusted basis. The decrease in purchase applications was determined by a 4.4 % decrease in applications for government supported mortgages, according to the MBA. The conventional purchase applications are actually increased to 1%.
The majority of mortgage rates were at their lowest point since middle of May. 30-year fixed-rate mortgages are decreased to 4.75%, 15-year fixed-rate mortgages are decreased to 4.19% and 1-year ARMs are decreased to 7.05%.
The purchased applications are decreased to 2.3 % and they were 36.8% lower than they were the same week last year on an adjusted basis. The decrease in purchase applications was determined by a 4.4 % decrease in applications for government supported mortgages, according to the MBA. The conventional purchase applications are actually increased to 1%.
The majority of mortgage rates were at their lowest point since middle of May. 30-year fixed-rate mortgages are decreased to 4.75%, 15-year fixed-rate mortgages are decreased to 4.19% and 1-year ARMs are decreased to 7.05%.
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