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     WASHINGTON (MNI) - The following is the text of the Mortgage Bankers
Association's Mortgage Applications Survey released Wednesday morning:
     Mortgage applications decreased 2.6 percent from one week earlier,
according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage
Applications Survey for the week ending October 27, 2017. 
     The Market Composite Index, a measure of mortgage loan application volume,
decreased 2.6 percent on a seasonally adjusted basis from one week earlier. On
an unadjusted basis, the Index decreased 3 percent compared with the previous
week. The Refinance Index decreased 5 percent from the previous week. The
seasonally adjusted Purchase Index decreased 1 percent from one week earlier.
The unadjusted Purchase Index decreased 2 percent compared with the previous
week and was 10 percent higher than the same week one year ago. 
     The refinance share of mortgage activity decreased to 48.7 percent of total
applications from 49.5 percent the previous week. The adjustable-rate mortgage
(ARM) share of activity increased to 6.8 percent of total applications. 
     The FHA share of total applications increased to 10.4 percent from 9.8
percent the week prior. The VA share of total applications decreased to 9.9
percent from 10.1 percent the week prior. The USDA share of total applications
increased to 0.8 percent from 0.7 percent the week prior. 
     The average contract interest rate for 30-year fixed-rate mortgages with
conforming loan balances ($424,100 or less) increased to its highest level since
July 2017, 4.22 percent, from 4.18 percent, with points increasing to 0.43 from
0.42 (including the origination fee) for 80 percent loan-to-value ratio (LTV)
loans. The effective rate increased from last week. 
     The average contract interest rate for 30-year fixed-rate mortgages with
jumbo loan balances (greater than $424,100) increased to its highest level since
July 2017, 4.16 percent, from 4.11 percent, with points increasing to 0.27 from
0.24 (including the origination fee) for 80 percent LTV loans. The effective
rate increased from last week. 
     The average contract interest rate for 30-year fixed-rate mortgages backed
by the FHA increased to its highest level since July 2017, 4.07 percent, from
4.04 percent, with points increasing to 0.46 from 0.41 (including the
origination fee) for 80 percent LTV loans. The effective rate increased from
last week. 
     The average contract interest rate for 15-year fixed-rate mortgages
increased to its highest level since March 2017, 3.52 percent, from 3.48
percent, with points increasing to 0.44 from 0.40 (including the origination
fee) for 80 percent LTV loans. The effective rate increased from last week. 
     The average contract interest rate for 5/1 ARMs increased to 3.33 percent
from 3.29 percent, with points decreasing to 0.50 from 0.54 (including the
origination fee) for 80 percent LTV loans. The effective rate increased from
last week.
--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com
[TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]