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mbaa weekly update: Mortgage Bankers Weekly Survey: Mortgage Applications Decrease - 06/02/11 09:30 PM
  Mortgage Bankers Association for the week of 6/1/2010
Fixed rate mortgages continue to decline this week, with the 30-year loan averaging 4.55% its lowest average this year. The MBAA reports their  Market Composite Index: ( Loan application volume) Decreased 4%. Their Refinance Index:  Decreased 5.7% from the previous week on further declines in the interest rate.However, this isnt helping sell homes.  Mortgage applications decreased 4% from one week earlier, according to data from the Mortgage Bankers Associations Weekly Mortgage The MBAA reports their  Purchase Index  decreased 1.2% compared with the previous weekThe recent Fed meeting indicates that lower rates will continue as the economic  recovery is unremarkable. … (0 comments)