Mortgage applications have been falling at their lowest level since May

“Mortgage applications have fallen at their lowest level since May, with both purchase and refinancing activity that falls in the week. There is still a lot of uncertainty about the economy and the labor market, which weighs on the decisions of potential home buyers,” said Joel Kan, MBA’s vice -president and vice -headcurro. “The fixed rate of 30 years had not changed much to 6.83%, but high enough that there was not much interest in refinancing, so that the refinancing index was pushed lower for the third consecutive week. Purchasing applications fell by almost 6%, as applications for conventional, FhaAnd Va Despite the growth of the home prize and the increasing levels of inventory for sale in many regions, the purchase loans fell, despite the growth. “

The refinancing index fell by 1% compared to the last week and was 30% higher than the same week a year ago. However, the refinancing share of the mortgage activity increased to 40.7% of the total applications compared to the 39.6% last week.

The seasonal adjusted purchasing index fell by 6% compared to the previous week. The non -adapted purchase index fell by 6% compared to the last week and was 17% higher than the same week a year ago.

For each product, the share of the adjustable speed (poor) of the activity has increased to 8.3% of the total applications. The FHA share of the total applications rose to 18.8% of 18.7% the week before. The VA share of the total applications fell to 12.2% of 12.6% the week before, and the USDA The share of the total applications remained unchanged at 0.6%.

The average contract interest for 30-year-old mortgages with fixed interest rates with conforming loans fell to 6.83% of 6.84% and 30 years with fixed rates with fixed interest rates with Jumbo loan balances fell to 6.74% of 6.75%.

The average contract interest for 30-year-old by the FHA with a fixed rates supported by the FHA rose to 6.56% of 6.52%. The average contract interest for 15-year-old mortgage with a fixed interest rate fell to 6.12% of 6.14% and 5/1 weapons rose to 6.22% of 6.01%.