Freddie Mac said the average rate on 30-year fixed-rate mortgages remained unchanged from last week at 8.25% for the week ended Feb. 4.
In the 15-year sector, fixed-rate mortgages increased to 7.85% from the prior week's 7.84%. A year ago, the rate was 6.38%.
The rate for one-year Treasury-indexed adjustable-rate mortgages averaged 6.65%, unchanged from last week's average. A year ago, this rate was 5.63%.
Refi Index Decreases
The MBA refinancing index decreased to 384.4 for the week ending Feb. 4, down from 413.6 the previous week.
Mortgage loan applications decreased 17.5% from the prior week and refinancings made up 19.3% of the total volume, decreasing from last week's 22.0%.
Meanwhile, the MBA's home purchase index increased to 292.6 from 286.1 the prior week. Base period for all indexes, 3/16/90=100.
