30 Year Mortgage Jumps Another 20 Basis Points

increase in the rate. In just six weeks it has shot up 1.13%.
8/07/03 6.34% 8/01/03 6.14% 7/25/03 5.94% 7/18/03 5.67% 7/11/03 5.40% 7/04/03 5.24% 6/27/03 5.21%
As expected, MBA's weekly survey of mortgage application activity reported a further decline in the Refinance Index. The Purchase Index moved up as potential homebuyers scrambled to make a purchase before rates create an affordability problem.
* Purchase Index: Increased 6.8%, from 427 to 456 * Refinance Index: Fell 3.4%, from 4,146 to 4,048. The Refinance Index has fallen from 9,978 in June to 4,048, which is a plunge of 60%.