COFI Skyrockets
Interest expenses for Western financial institutions shot up -- yanking the Cost of Funds Index well off of its record low.

15, 30-year Spread Balloons
The spread between the 15-year and 30-year fixed-rate mortgage has not been this wide for more than a year. Reflecting last week's improvement in rates, 1003 applications improved.

United Guaranty Updates Pricing
United Guaranty Residential Insurance Co. is updating its pricing for borrowers with credit scores below 700.

Rates Fall, ARM Share Continues Rising
Mortgage rates declined for the first time in four weeks. Meanwhile, the share of borrowers opting for an adjustable rate has risen for six consecutive weeks.

Originations Still Projected to Increase
Although mortgage applications have declined by more than half during the past two months, Freddie Mac is still projecting that third-quarter originations for U.S. lenders will jump by more than 20 percent from the current quarter. But rates are projected to be fall.

Rates Rapidly Rising
As mortgage rates climb, 15-year mortgages are becoming more attractive, adjustable-rate loans are rising in popularity and refinance activity is weakening.

Spread Between 30-yr & 15-yr Soars
As the 30-year fixed rate jumped to a six-month high, the spread between the 15-year and the 30-year reached its widest level in more than a year. Refinance activity tumbled, while purchase applications increased.

MTA at 54-Year Low
It's been more than half a century since the Monthly Treasury Average has been this low.

Another Record Low for COFI
After reaching the lowest level on record, the Cost of Funds Index set another record.