The refinance index increased 5% last week, still 11% lower than 2 weeks prior, and 36% lower than the beginning of May 2013. The average contract interest rate for 30-year fixed-rate mortgage loans with a conforming loan balance jumped 4.15%, and the 30-year fixed-rate Mortgage increased 4.25%. According to the Industry Trade Group Report the seasonally adjusted purchase index rose 5% from the beginning of June. Additionally, the refinance share of mortgage activity grew 1%, averaging 69%. More here
