After Hitting a Low, Mortgage Applications Climb.
Mortgage applications rose slightly on an adjusted basis last week, up 2.8 percent to 432.6 from 420.8 the previous week, according to the Mortgage Bankers Association weekly survey.Total mortgage applications had slumped a week ago to their lowest level since December 2000. On an unadjusted basis, the index increased 2.4 percent compared with the previous week and was down 33.7 percent compared with the same week a year ago.Refinances increased 4.4 percent, while purchases rose 1.8 percent. Mortgage rates were down slightly:
30-year fixed-rate mortgages decreased to 6.41 percent from 6.46 percent;
15-year fixed-rate mortgages increased to 6.02 percent from 5.98 percent;
1-year ARMs decreased to 7.17 percent from 7.25 percent.Source: Mortgage Bankers Association (08/06/08)
Mortgage applications rose slightly on an adjusted basis last week, up 2.8 percent to 432.6 from 420.8 the previous week, according to the Mortgage Bankers Association weekly survey.Total mortgage applications had slumped a week ago to their lowest level since December 2000. On an unadjusted basis, the index increased 2.4 percent compared with the previous week and was down 33.7 percent compared with the same week a year ago.Refinances increased 4.4 percent, while purchases rose 1.8 percent. Mortgage rates were down slightly:
30-year fixed-rate mortgages decreased to 6.41 percent from 6.46 percent;
15-year fixed-rate mortgages increased to 6.02 percent from 5.98 percent;
1-year ARMs decreased to 7.17 percent from 7.25 percent.Source: Mortgage Bankers Association (08/06/08)
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