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- The 30-year fixed-rate mortgage (FRM) averaged 3.47 percent with an average 0.6 point for the week ending October 13, 2016.
- This is up from last week when it averaged 3.42 percent.
- A year ago, the 30-year FRM averaged 3.82 percent.
- Mortgage applications for new home purchases increased 3 percent year-over-year.
- Applications decreased 7 percent month-over-month.
- Conventional loans comprised 68.8 percent of loan applications.
Home equity rates:
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- Mortgage applications decreased 6.0 percent from one week earlier for the week ending October 7, 2016.
- The refinance share of mortgage activity decreased to 62.4 percent of total applications from 63.8 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.68 percent from 3.62 percent the previous week.
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