Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Applications for purchase mortgages during the week ending Feb. 12 fell 18.4 percent from a year ago, the Mortgage Bankers Association said today in releasing the results of its Weekly Mortgage Applications Survey.Overall loan application volume was down a seasonally adjusted 2.1 percent from the week before, with demand for purchase loans falling 4 percent week-over-week and applications for refinancings down 1.2 percent.Requests for refinancings accounted for 69.3 percent of all loan applications, and 4.4 percent of applications were for adjustable-rate mortgage (ARM) loans, the MBA said.The average contract interest rate for 30-year fixed-rate mortgages remained unchanged at 4.94 percent, with points increasing to 1.09 from 1.06 (including the origination fee) for 80 percent loan-to-val...