Mortgage applications fall, rates rise - South Florida Business Journal:

afukakuja.wordpress.com
The industry group said the indexs for new and refinanced loans for the week ended May 29fell 16.2 The results include an adjustment to account for Memorialp Day. On an unadjusted basis, the indexc decreased 32.5 percent compared to the previousa week andincreased 14.4 percent compared to the same week a year ago. The refinancre share of mortgage activity decreasedto 62.4 percenty of total applications from 69.3 percent the previous The adjustable-rate mortgage (ARM) sharee of activity increased to 3 percent from 2.6 percent of totapl applications the previous week. The averaged interest rate for 30-year fixed-rate mortgageds increased to 5.25 percent from 4.
81 percent, with points decreasing to 1.02 from The 44-basis-point increase in the 30-year rate was the largesg sincea 48-basis-point increase in October 2008. The average interest rate for 15-yead fixed-rate mortgages increased to 4.8 percent from 4.44 percent, with pointes decreasing to 1.1 from 1.16. The average interesyt rate for one-year ARMs increased to 6.61 percen t from 6.55 percent, with points increasinfg to 0.15 from 0.
12 (including the origination fee) for 80 percent loan-to-value