The (MBA) Mortgage Bankers Association released Hottest Mortgage Applications Report. Noted it a week-over-week increasing of 6.2 percent in the groups seasonally adjusted multiple indexes for the week ending this November following a decrease of 1.3percent for the week ending this November. Mortgage loan rates increased a little again on 4 types of fixed-rate loans last week and decreased on 5/1 ARMs.
On an unadjusted basis, the merged index decreased by 6 percent week over week. The seasonally adjusted purchase index jumped 12 percent compared with the week ended November first week. The unadjusted purchase index decreased by 3 percent for the week and is now 19 percent higher year over year.
The (MBA)Mortgage Bankers Association refinance index increasing by 2 percent week over week and the percentage of all new applications that were looking for refinancing fell from 59.8 percent to 58.6 percent.
Adjustable rate mortgage loans accounted for 6.3 percent of all applications, down from 6.6 percent the previous week.
The 30-year fixed-rate conforming loan averaged 4.01 percent on Tuesday, in a 52-week range of 3.55 percent to 4.20 percent.
Last week's average mortgage loan rate for a conforming 30-year fixed-rate mortgage rose from 4.12 percent to 4.18 percent, the top level since July. The rate for a jumbo 30-year fixed-rate mortgage rose from 4.04 percent to 4.05 percent. The average interest rate for a 15-year fixed-rate advance rose from 3.35 percent to 3.40 percent, also the highest level since July.
The agreement interest rate for a 5/1 adjustable rate mortgage loan decreased from 3.22 percent to 3.18 percent. Rates on a 30-year FHA-backed fixed-rate loan rose from 3.87 percent to 3.90 percent.