The most recent Mortgage Bankers Association (MBA) weekly applications survey, covering roughly 50 percent of all residential mortgage originations and tracking the average interest rate for 30-year and 15-year fixed-rate mortgages, as well as the volume of both purchase and refinance applications, highlights show:
- the average rate for a 30-year fixed-rate mortgage (from FHA and conforming GSE data) decreased 7 basis points to 3.80% since last week
- purchase application volume increased 0.2%
- refinance application volume increased 16%
