More housing numbers: Purchase mortgages down a bit

  • The Mortgage Bankers Association's purchase index was down 3% for the week ending last Friday.
  • The group's index for refinance continued to roar, hitting a three-year high. Refis made up 81% of all applications.
  • Refinances were driven by a 30-year fixed rate that held at 3.74 and a 15-year fixed rate that went from 3.12% to an average 3.07% last week.

From the article:

The number of mortgage applications filed in the U.S. edged up a slight 0.9% for the week ending July 20 as refinance activity hit a three-year high, an industry trade group said. ...

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Filed Under: Residential Building Economy