According to the Mortgage Bankers Association, mortgage applications increased, growing 0.3% last week. The refinance index also grew by 4%, while the purchase index fell 5%. The average 30-year, fixed rate mortgage with a conforming loan limit jumped 0.04% while the average 30-year, fixed rate mortgage jumbo loans also showed gains, increasing from 4.45% to 4.51%. Additionally, the 5/1 ARM remained unchanged at 3.25%. More here
