TALKING POINTS
- Another drop in refinances last week kept mortgage application volume basically unchanged, up just 0.9 percent seasonally adjusted, from the previous week, according to the Mortgage Bankers Association.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) increased to 4.69 percent from 4.65 percent.
- Points decreased to 0.45 from 0.58 (including the origination fee) for 80 percent loan-to-value ratio loans. That is the highest since January 2014.