US DATA IMPACT:MBA Mkt Composite -5.6%,Refis -11% April 5 Wk

     WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a

pull back in mortgage activity in the April 5 week after a sharp gain in the

previous week, with activity down 5.6% as mortgage rates ticked up slightly.

     Here are some of the key features of the report:

     - The Refinance Index fell by 11% after surging to a three-year high in the

previous week, while the Purchase Index rose by 1%. 

     - The 30-year average rate for a 30-year fixed mortgage rose to 4.40% in

the current week from 4.36% in the previous week. There were gains for jumbo,

FHA, and 15-year mortgages as well.  

     - The unadjusted purchasing index was up 13% from a year earlier, so there

has been clear improvement over the last year.

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

[TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]