Mortgage refinancing activity down 19% - San Francisco Business Times:

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percent last week from the previous week, accordinb to the ’s weekly mortgage application s surveyreleased Wednesday. The market composite index, a measure of mortgagew loan application volume, was 786, a decreasw of 14.2 percent on a seasonallh adjusted basisfrom 915.9 one week earlier. The purchased index, however, was up 1 percent for the week, on a seasonallgy adjusted basis. The four week movingg average for the seasonally adjusted market Indexx isdown 4.7 percent. The four week moving averagr isup 0.5 percent for the purchasr index, while this average is down 6.2 perceng for the refinance index. The refinancwe share of mortgage activity decreasecto 69.
3 percent of totalp applications from 73.6 percent the previous week. The adjustable-ratde mortgage (ARM) share of activityt increased to 2.6 percent from 2.4 percent of totalp applications from the previous The average contract interest ratefor 30-year fixed-rate mortgagezs increased to 4.81 percent from 4.69 with points increasing to 1.28 from 1.13 (including the origination fee) for 80 percenf loan-to-value (LTV) ratio loans. The average contract interestg ratefor 15-year fixed-rate mortgages remainedf unchanged at 4.44 percent, with pointes increasing to 1.16 from 1.01 (including the originationb fee) for 80 percent LTV loans.
The average contracf interest ratefor one-year ARMs increased to 6.55 percenr from 6.38 percent, with points increasing to 0.12 from 0.10 (includingh the origination fee) for 80 percent LTV