The share of mortgages that were 30 to 59 days past due slightly increased to 2.3% while the national delinquency rate remained unchanged.
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Mortgage applications increased 0.6% from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending October 25, 2019.

The Market Composite Index, a measure of mortgage loan application volume, increased 0.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.3% compared with the previous week. The Refinance Index decreased 1% from the previous week and was 134% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 10 % higher than the same week one year ago.

"The 10-year Treasury rate rose slightly last week, as markets expected more progress toward a trade deal between the U.S. and China. Mortgage rates increased for the second straight week as a result, with the 30-year fixed rate climbing to 4.05% - the highest level since the end of July," said Joel Kan, Associate Vice President of Economic and Industry Forecasting.

"Mortgage applications were mostly unchanged, with purchase activity rising 2% and refinances decreasing less than 1%. Purchase applications continued to run at a stronger pace than last year, finishing a robust 10% higher than a year ago. Considering how much lower rates are compared to the end of 2018, purchase applications should continue showing solid year-over-year gains."

The refinance share of mortgage activity decreased to 58.0% of total applications from 58.5% the previous week. The adjustable-rate mortgage share of activity increased to 5.2% of total applications.

The FHA share of total applications decreased to 12.0% from 12.1% the week prior. The VA share of total applications decreased to 11.8% from 13.5% the week prior. The USDA share of total applications increased to 0.6% from 0.5% the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) increased to 4.05% from 4.02%, with points decreasing to 0.37 from 0.38 (including the origination fee) for 80% 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 $484,350) increased to 4.01% from 3.96%, with points remaining unchanged at 0.30 (including the origination fee) for 80% 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 3.83% from 3.79%, with points increasing to 0.28 from 0.26 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.40% from 3.39 %, with points increasing to 0.36 from 0.35 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs increased to 3.43% from 3.29%, with points decreasing to 0.23 from 0.35 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.