The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey Their findings for the weekending December 16th were as follows:
- Purchase Index down 5.2% from prior week
- Refinance Index down 1.6% from prior week
- Refi Market Share was 41.7% up from 40.2% in prior week
- Average 30-year Fixed Mortgage Rate was 6.22% down from 6.28% in prior quarter
Mortgage rates have been generally trending down slightly since the second week in November which is expected to stimulate modest sales activity in early 2006.