Refi % of Apps Increased To 81.1%
February 15, 2012 – The Mortgage Bankers Association reported that the refinance share of mortgage activity increased to 81.1 percent of total applications from 80.5 percent the previous week. This is the highest refinance share since January 20, 2012. The adjustable-rate mortgage (ARM) share of activity decreased to 5.4 percent from 6.0 percent of total applications from the previous week.
The average loan size in the United States in January 2012 was $226,000. Average loan size has been increasing in recent months, up from $225,000 in December 2011 and up from $207,000 in January 2011. The District of Columbia has the highest average loan size in the nation at $375,000 while Indiana had the lowest average loan size at $143,000. Across the country, the average loan size was $217,000 for home purchase applications and $228,000 for refinances in the month of January.
LinkedIn
Twitter
Blog Feed