Mortgage applications fall to four-month low - Kansas City Business Journal:

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percent, the reported. In its Weekly Mortgagre Applications Survey, the Washington-based association said the fall is the biggesrsince February. Refinancing slumped to the lowest level insevem months. In the week that ended June 26, the Refinancre Index fell 30 percent from oneweek earlier. The Refinancre Index is at its lowest level since The average contract interest ratefor 30-yeafr fixed-rate mortgages decreased to 5.34 percent from 5.44 percent, with points increasing to 1.12 from 0.99 (includinh the origination fee) for 80 percentf loan-to-value ratio loans. The averages contract interest ratefor 15-year fixed-rate mortgagesa decreased to 4.81 percent from 4.
93 with points increasing to 1.04 from 0.92 (including the originationb fee) for 80 percent LTV The survey covers more than 50 percent of all U.S. retaio residential mortgage applications. The association has conducted it weeklysince 1990.