Overall home mortgage applications slipped 1.5 percent last week on a seasonally adjusted basis, as long-term interest rates continue to climb, according to the Mortgage Bankers Association’s weekly survey.

The MBA seasonally adjusted purchase index decreased by 1.7 percent to 444 from 451.6 the previous week. The seasonally adjusted refinance index decreased by 1.4 percent to 3,250.6 from 3,296.7 one week earlier.

The refinance share of mortgage activity decreased to 57 percent of total applications from 58.5 percent the previous week. The adjustable-rate-mortgage share of activity increased to 27.2 percent from 26.3 percent the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 5.63 percent from 5.58 percent one week earlier. Points including the origination fee decreased to 1.42 from 1.47 the previous week for 80 percent loan-to-value ratio loans.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect Black Friday Sale! Bundle our next two events or secure your 2021 All Access Pass.SEE THE DEALS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription