Talking Points
- Total mortgage applications fell 3.1 percent for the week, according to the Mortgage Bankers Association’s seasonally adjusted report.
- Applications to refinance a home fell 8 percent for the week, marking the lowest level since January. They were down 18 percent from a year ago.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $424,100 or less remained unchanged from the week prior at 4.20 percent, with points decreasing to 0.34 from 0.42, including the origination fee, for 80 percent loan-to-value ratio loans.