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To: sciAticA errAticA who wrote (32707)	4/30/2003 8:12:41 AM
From: sciAticA errAticA	Read Replies (1) \| Respond to of 74559

Mortgage Rates Decrease In Latest MBA Survey Refinancing Index Remain Strong Source: Mortgage Bankers Association of America Date: April 30, 2003 Washington, D.C. (April 30, 2003) - The Market Composite Index of mortgage loan applications – a measure of mortgage loan applications for purchases and refinancings - for the week ending April 25 decreased to 1050.8 on a seasonally-adjusted basis from 1055.8 one week earlier, according to the Weekly Mortgage Applications Survey of the Mortgage Bankers Association of America (MBA), which was released today. On an unadjusted basis, the Index decreased by 0.3 percent but was up 87.7 percent compared to the same week a year earlier. The MBA seasonally adjusted Purchase Index decreased to 356.0 from 359.9 the previous week. The seasonally adjusted Refinance Index decreased to 5092.0 from 5103.9 one week earlier. Other seasonally adjusted index activity included the Conventional Index, which decreased to 1514.7 from 1525.4 the previous week. The Government Index increased to 276.6 from 272.1 the previous week. Refinancing activity remained the same as the previous week at 68.4 percent of total applications. The share of ARM activity decreased to 14.3 percent from 14.8 percent the previous week. The average contract interest rate for 30-year fixed rate mortgages decreased to 5.51 from 5.67 percent one week earlier, with points increasing to 1.47 from 1.44 the previous week (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 15-year fixed rate mortgages decreased to 4.80 percent from 5.03 percent one week earlier, with points increasing to 1.42 from 1.24 the previous week (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The average contract interest rate for 1-year ARMs decreased to 3.27 from 3.35 percent one week earlier, with points decreasing to 0.99 from 1.06 the previous week (including the origination fee) for 80 percent LTV loans. mbaa.org