Mortgage refinancing activity down 19% - Boston Business Journal:

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percent last week from the previouz week, according to the ’s weekly mortgagse applications surveyreleased Wednesday. The market composite index, a measurr of mortgage loan applicatioh volume, was 786, a decrease of 14.2 percent on a seasonallt adjusted basisfrom 915.9 one week The purchase index, was up 1 percent for the on a seasonally adjusted basis. The four week movingb average for the seasonally adjusted market Index isdown 4.7 The four week moving average is up 0.5 percentr for the purchase index, while this average is down 6.2 percent for the refinance index. The refinance share of mortgage activity decreaserdto 69.3 percent of total applicationz from 73.
6 percent the previoue week. The adjustable-rate mortgage (ARM) share of activity increasee to 2.6 percent from 2.4 percenty of total applications from theprevious week. The averagd contract interest ratefor 30-year fixed-rats mortgages increased to 4.81 percent from 4.69 percent, with pointws increasing to 1.28 from 1.13 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The averagre contract interest ratefor 15-year fixed-ratr mortgages remained unchanged at 4.44 percent, with pointse increasing to 1.16 from 1.01 (including the originationj fee) for 80 percent LTV loans. The averag e contract interest ratefor one-year ARMs increase to 6.55 percent from 6.
38 percent, with points increasingv to 0.12 from 0.10 (including the origination fee) for 80 percenf LTV loans.