Mortgage applications fall - Austin Business Journal:

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percent. In its Weekl y Mortgage Applications Survey, the Washington, D.C.-based Mortgage Bankerds Association said the fall is the biggesgtsince February. Refinancing slumped to the lowest level insevenj months. In the week ending June 26 the Refinance Indexz fell 30 percent from oneweek earlier. The Refinance Index is at its lowest level sinceNovembedr 2008. The average contract interest ratefor 30-year fixed-rated mortgages decreased to 5.34 percent from 5.44 percent, with pointz increasing to 1.12 from 0.99 (including the origination fee) for 80 perceng loan-to-value ratio loans. The average contract interest ratefor 15-year fixed-rate mortgages decreased to 4.81 percent from 4.
93 percent, with points increasing to 1.04 from 0.92 (includint the origination fee) for 80 percent LTV The survey covers over 50 percenft of all U.S. retail residential mortgage applications, and has been conducte weekly since 1990.