Mortgage Rates Drop Again in MBA Survey for Week Ending -June 18th; Avg. Rate is at 4.75%; Refinance Activity Now at a Volume of 73.8% of Total Mortgage Weekly Activity

The Mortgage Bankers Association (MBA) announced their most current data (averages for contract interest rates): 

30 Year Fixed Interest Rate = 4.75 %
15 Year Fixed Interest Rate = 4.19 %
1 Year Adjustable Rate Mortgage = 7.05 %

Source: Mortgage Bankers Association (MBA)

The level of refinance activity was reported to be at 73.8 % 
of the total activity for the weekly survey.  The level of
refinance activity for week ending June 11th was 74.8 %.

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