As mortgage rates
The MBA's Weekly Mortgage Applications Survey for the week ending Sept. 8 found that the refinance index increased 9%
The refinance application share increased to 51% from 50.9% the previous week.
The market composite index, a measure of mortgage loan application volume, increased 9.9% on a seasonally adjusted basis, and on an unadjusted basis it decreased 13% compared with the previous week.
The seasonally adjusted purchase index increased 11% from one week earlier, while the unadjusted purchase index decreased 13% compared with the previous week and was 7% higher than the same week one year ago.
Adjustable-rate loan application activity decreased to 6.7% from 7.2%, while the share of applications for Federal Housing Administration-guaranteed loans increased to 9.9% from 9.6%.
The share of applications for Veterans Affairs-guaranteed loans increased to 10.3% from 9.7% and the U.S. Department of Agriculture/Rural Development share remained unchanged at 0.7%.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) decreased 3 basis points to 4.03%. For 30-year fixed-rate mortgages with jumbo loan balances (greater than $424,100), the average contract rate increased 4 basis points to 4%.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased 4 basis points to 3.94%, while for 15-year fixed-rate mortgages the average decreased 4 basis points to 3.3%.
The average contract interest rate for 5/1 ARMs increased 3 basis points to 3.17%.