This week mortgage applications have decreased 4% compared to a week earlier and mortgage rates have also gone down, although still above their record-low levels.

Almost all mortgages have decreased their rates this week, except for 1 year-adjustable-rate mortgage, which has increased its rate slightly compared to last week.

According to Freddie Mac 30-year fixed-rate mortgages have decreased from 3.57% last week to 3.54% this week.

15-year mortgages have gone down to 2.74% this week compared to 2.76% last week. This rate is only 0.1% higher than the lowest 15-year rate we have seen in 2013, of 2.64% during the first week of January.

5-year adjustable rate mortgages have also decreased this week to 2.65% compared to 2.68% last week.

1-year mortgages are the only ones that have increased their rates this week going up from 2.62% last week to 2.63% this week. This is the third highest rate we have seen this year in 1-year adjustable-rate mortgages.

The refinance share of mortgage activity this week has decreased from 75% last week to 74% this week, which is 3% less than 4 weeks ago when refinancing amounted to 77% of all mortgage activity.

The adjustable rate mortgages share has remained steady this week at 5% of all mortgage applications.

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