WASHINGTON, D.C. — May 4, 2012 — (RealEstateRama) — Mortgage applications increased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 27, 2012.

WASHINGTON, D.C. May 4, 2012 (RealEstateRama) Mortgage applications increased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 27, 2012.

The Market Composite Index, a measure of mortgage loan application volume, increased 0.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.4 percent compared with the previous week. The Refinance Index decreased 0.7 percent from the previous week. The seasonally adjusted Purchase Index increased 2.9 percent from one week earlier. The unadjusted Purchase Index increased 3.7 percent compared with the previous week and was 3.0 percent higher than the same week one year ago.

The four week moving average for the seasonally adjusted Market Index is up 0.09 percent. The four week moving average is down 1.77 percent for the seasonally adjusted Purchase Index, while this average is up 0.75 percent for the Refinance Index.

The refinance share of mortgage activity decreased to 72.6 percent of total applications from 73.4 percent the previous week. The government share of purchase applications remained steady at 37.0 percent, a slight increase from a couple of weeks ago when the share was 36.4 percent. The government share of purchase applications over the last three weeks has been at the lowest level since 2009.

During the month of March, the investor share of applications for home purchase was at 5.7 percent, a slight decrease from 6.1 percent in February. This change was led by a decline in the West South Central region. In addition, the share of purchase mortgages for second homes remained constant at 5.8 percent.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 4.05 percent from 4.04 percent, with points increasing to 0.44 from 0.40 (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 $417,500) increased to 4.32 percent from 4.27 percent, with points decreasing to 0.38 from 0.44 (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 decreased to 3.80 percent, the lowest rate in the history of the survey, from 3.81 percent, with points decreasing to 0.50 from 0.52 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.31 percent, the lowest rate in the history of the survey, from 3.32 percent, with points decreasing to 0.41 from 0.41 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs increased to 2.87 percent from 2.81 percent, with points decreasing to 0.35 from 0.37 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

If you would like to purchase a subscription of MBA’s Weekly Applications Survey, please visit www.mortgagebankers.org/WeeklyApps. contact or click here .

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C. the association works to ensure the continued strength of the nations residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBAs Web site: www.mortgagebankers.org .