Mortgage applications fell slightly last week from the previous week as home purchase filings and refinancing slowed down. According to the Mortgage Bankers Association, mortgage applications decreased by 7.3%, but experts suggest that many times after a boost in mortgage activity levels will drop slightly. Additionally, mortgage applications are still 10% higher than levels seen this time last year, proving that the housing market is still making strides toward recovery. Average 30-year fixed-rate mortgages with a conforming loan balance jumped .08% while the average 30-year fixed-rate mortgage with a jumbo loan balance increased .09% last week. More here
