The Mortgage Bankers Association’s (MBA) weekly application survey results for the week ending July 14th revealed that overall mortgage application volume increased 16.9% on a seasonally adjusted basis from the previous week. Refinance application activity rose 22% and “represented 80.1% of all mortgage applications compared to 77 percent during the week ended July 6.”
Average mortgage interest rates for 30-year fixed rate mortgages decreased to 3.74% from 3.79% while average 15-year fixed mortgage rates averaged 3.12%, decreasing from 3.15%. http://bit.ly/Pamia8