Mortgage applications fall - Atlanta Business Chronicle:

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percent. In its Weekly Mortgag Applications Survey, the Washington, D.C.-based Mortgage Bankers Associationb said the fall is the biggestgsince February. Refinancing slumped to the lowesr level inseven months. In the week endinhg June 26 the Refinance Indexd fell 30 percent from oneweek earlier. The Refinancer Index is at its lowesgt level sinceNovember 2008. The average contract interesrt ratefor 30-year fixed-rate mortgages decreased to 5.34 percentt from 5.44 percent, with pointsz increasing to 1.12 from 0.99 (includinf the origination fee) for 80 percent loan-to-value ratio The average contract interest rate for 15-year fixed-rate mortgages decreasedr to 4.81 percent from 4.
93 percent, with points increasingy to 1.04 from 0.92 (including the origination fee) for 80 perceng LTV loans. The survey covers over 50 percengt ofall U.S. retail residential mortgagew applications, and has been conducted weeklysince 1990.