Florida Home Mortgage Applications Show Little Change

Florida mortgage applications were little changed from the prior week, with an increase in demand for home loans to buy homes offset by a drop in applications to refinance.

The Mortgage Bankers Association said its mortgage applications index rose 0.1 percent to a seasonally adjusted 619.4 in the week ending June 29, nearing its lowest level since mid-February.

The MBA’s purchase index - specifically gauging the level of Florida home mortgage activity for would-be home buyers - rose 2.0 percent to 437.3.

But at the same time, Florida refinance applications gauge dropped 2.6 percent to 1,687.2 on a seasonal basis, the lowest this year.

Florida mortgage refinancing represented 37.8 percent of all applications in the latest week, down from 38.7 percent the prior week.

On a four-week moving average, which smooths out the more mercurial weekly figures, the overall applications index is down 0.2 percent at 637.1.

Meanwhile, the Florida home purchase loan index is up 0.2 percent at 445.4 and the Florida mortgage refinance index is down 1.0 percent.

The average 30-year fixed-rate Florida mortgage, excluding fees, fell 0.10 percent to 6.50 percent, the association also reported.

SOURCE: Reuters