Mortgage applications fall - Jacksonville Business Journal:

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percent. In its Weekly Mortgage Applications Survey, the Washington, D.C.-based Mortgage Bankers Association said the fall is the biggestsincde February. Refinancing slumped to the lowest level insevej months. In the week ending June 26 the Refinanc e Index fell 30 percent from one week The Refinance Index is at its lowesrt level sinceNovember 2008. The average contract interes t ratefor 30-year fixed-rate mortgageds decreased to 5.34 percent from 5.44 percent, with points increasingt to 1.12 from 0.99 (including the originationb fee) for 80 percent loan-to-value ratio loans. The average contractf interest ratefor 15-yeat fixed-rate mortgages decreased to 4.81 percent from 4.
93 with points increasing to 1.04 from 0.92 (including the origination fee) for 80 percent LTV loans. The survet covers over 50 percent ofall U.S. retaikl residential mortgage applications, and has been conducted weeklysincd 1990.