Mortgage refinancing activity down 19% - Atlanta Business Chronicle:

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percent last week from the previouxs week, according to the ’s weekly mortgage applications surveyreleased Wednesday. The market composits index, a measure of mortgage loan application was 786, a decrease of 14.2 percent on a seasonally adjusted basis from 915.9 one week The purchase index, however, was up 1 percent for the on a seasonally adjusted The four week moving average for the seasonallyh adjusted market Index is down 4.7 percent. The four week moviny average isup 0.5 percent for the purchase while this average is down 6.2 percent for the refinance The refinance share of mortgage activity decreasee to 69.3 percent of total applications from 73.
6 percent the previous week. The adjustable-rate mortgage (ARM) share of activitg increased to 2.6 percent from 2.4 percentr of total applications from the previous The average contract interesyt ratefor 30-year fixed-rate mortgages increasefd to 4.81 percent from 4.69 with points increasing to 1.28 from 1.13 (includin g the origination fee) for 80 percent loan-to-values (LTV) ratio loans. The averagre contract interest ratefor 15-year fixed-ratew mortgages remained unchanged at 4.44 percent, with pointsw increasing to 1.16 from 1.01 (including the origination fee) for 80 percent LTV loans. The averag contract interest ratefor one-year ARMs increasedx to 6.55 percent from 6.
38 percent, with points increasingf to 0.12 from 0.10 (including the originationj fee) for 80 percent LTV loans.