Mortgage Applications raised up to 14.2 Percent in U.S. There was new data information -­post-­Brexit­- from the Mortgage Bankers Association's Weekly Mortgage Applications Survey.

Mortgage 
The data shows :
  • The Market Composite Index increased 14.2 percent, on an unadjusted basis.
  • The Index increased 14 percent compared with the previous week.
  • The Refinance Index increased 21 percent.
  • The seasonally adjusted Purchase Index increased 4 percent.
  • The unadjusted Purchase Index increased 4 percent.
Mike Fratantoni, MBA's Chief Economist, said: "Interest rates continued to drop last week as markets assessed the impact of Brexit, downgrading the likelihood of additional rate hikes by the Fed, and mortgage rates for 30­ year conforming loans dropped to their lowest level in over 3 years. In response, refinance application volume jumped almost 21 percent last week to its highest level since January 2015." More specific: • The refinance share of mortgage activity increased to 61.6 percent of total applications ,from 58.1 percent the previous week. • The adjustable­rate mortgage (ARM) share of activity decreased to 5.6 percent of total applications. • The FHA share of total applications decreased to 9.5 percent from 10.6 percent the week prior. • The VA share of total applications increased to 12.8 percent from 12.2 percent the week prior. • The USDA share of total applications decreased to 0.6 percent from 0.7 percent the week prior. And as for the average contract interest rate for 30­ year fixed ­rate mortgages: • Conforming loan balances decreased to its lowest level since May 2013, 3.66 percent, from 3.75 percent, with points decreasing to 0.32 from 0.36 for 80 percent loan­to­value ratio (LTV) loans. • Jumbo loan balances decreased to its lowest level since January 2011, 3.67 percent, from 3.74 percent, with points decreasing to 0.24 from 0.34 for 80 percent LTV loans. • By the FHA decreased to its lowest level since May 2013, 3.56 percent, from 3.61 percent, with points decreasing to 0.31 from 0.37 for 80 percent LTV loans.

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