Wednesday, March 27, 2013

Reading Rates: MBA Application Survey – March 27 2013

The Mortgage Bankers Association (MBA) publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages as well as the volume of both purchase and refinance applications.

The purchase application index has been highlighted as a particularly important data series as it very broadly captures the demand side of residential real estate for both new and existing home purchases.

The latest data is showing that the average rate for a 30 year fixed rate mortgage (from FHA and conforming GSE data) declined 2 basis points to 3.65% since last week while the purchase application volume increased 7% and the refinance application volume increased 8% over the same period.

The following chart shows the average interest rate for 30 year and 15 year fixed rate mortgages since 2006 as well as the purchase, refinance and composite loan volumes (click for larger dynamic full-screen version).




2 comments:

  1. Great! This is a nice presentation on the real estate business industry. I have been thinking about real estate acquiring Spazio @ Kovan unit these days and I need some things to consider.

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  2. NICE BLOG!!! MBA is considered to be one of the most preferred post graduation course among the world today. Business management is currently the most sought after career option in the entire globe. Thanks for sharing a nice information.
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