The Oldest and Most Trusted Real Estate News Magazine

Mortgage applications grow on refinancing activity


Mortgage applications rose 4% this past week as home refinancing activity grew and interest rates dropped.

For the week ending April 29, the MBA's market composite index – a measure of mortgage loan application volume – grew 4% on a seasonally adjusted basis, while the refinance index increased 6%.

The four-week moving average for the seasonally adjusted market index and the purchase index fell 0.9% and 2.4%, respectively, while the refinance index remained unchanged from the previous week.

Meanwhile, the average 30-year, fixed-rate mortgage fell for the third consecutive week to 4.76% from 4.80% a week earlier, and the 15-year FRM decreased to 3.96% from 4.03%.

Refinancing activity during the period rose to 62.7% of total applications, compared to 61.6% a week earlier.

Write to Kerri Panchuk.


Tags: , , , ,

Sitemap Madbadcat Graphics