Mortgage refinancing activity down 19% - Boston Business Journal:

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percent last week from the previous according tothe ’s weekly mortgage applications survey releasefd Wednesday. The market composite index, a measure of mortgage loan application volume, was 786, a decrease of 14.2 percentf on a seasonally adjusted basisfrom 915.9 one week The purchase index, however, was up 1 perceng for the week, on a seasonallt adjusted basis. The four week moving average for the seasonally adjusted marketf Index isdown 4.7 percent. The four week moving average isup 0.5 percent for the purchase index, while this average is down 6.2 percent for the refinance The refinance share of mortgage activity decreased to 69.3 percent of totalp applications from 73.
6 percent the previouzs week. The adjustable-rate mortgage (ARM) share of activity increasedf to 2.6 percent from 2.4 percent of totao applications from theprevious week. The averagee contract interest ratefor 30-year fixed-rate mortgages increaserd to 4.81 percent from 4.69 percent, with pointa increasing to 1.28 from 1.13 (including the origination fee) for 80 percent loan-to-value ratio loans. The averag e contract interest ratefor 15-year fixed-rats mortgages remained unchanged at 4.44 percent, with points increasingf to 1.16 from 1.01 (includinbg the origination fee) for 80 percen LTV loans. The average contract interest ratefor one-year ARMs increasedf to 6.55 percent from 6.
38 percent, with point s increasing to 0.12 from 0.10 (including the originatio n fee) for 80 percent LTV loans.