Inman News

12 June 2013

Demand for purchase loans was up a seasonally adjusted 5 percent during the week ending June 7 when compared to the week before, and up 6 percent from a year ago, the Mortgage Bankers Association said today.

Requests to refinance were down 36 percent from a recent peak at the beginning of May, but refis still accounted for 69 percent of mortgage applications, the MBA said.

The average contract interest rate for 30-year fixed-rate conforming mortgages increased to 4.15 percent, the highest rate since March 2012, with points averaging 0.48.