MBA seasonally adjusted index showed weekly mortgage applications fell 6%. The average contract rate on 30-year fixed conforming loans (≤ $832,750) rose to 7.30% from 7.12%. Points including origination fees on loans with 20% down ticked up to 0.75 from 0.73. Refinance activity was hardest hit: refinance applications fell 9% week and were down 56% YoY; refinance share of total mortgage volume slipped to 38.3% from 39.3%. Government-backed refinances dropped 13%, with FHA and VA applications post

MBA seasonally adjusted index showed weekly mortgage applications fell 6%. The average contract rate on 30-year fixed conforming loans (≤ $832,750) rose to 7.30% from 7.12%. Points including origination fees on loans with 20% down ticked up to 0.75 from 0.73. Refinance activity was hardest hit: refinance applications fell 9% week and were down 56% YoY; refinance share of total mortgage volume slipped to 38.3% from 39.3%. Government-backed refinances dropped 13%, with FHA and VA applications posting double-digit weekly declines, MBA economist Joel Kan said.