Mortgage Applications Rise 2.5 Percent for the Week

From Realtor Magazine Online, Daily Real Estate News December 12, 2007

Mortgage applications rose again last week, up 2.5 percent to 811.8 from 791.8 the previous week on an adjusted basis, according to the weekly mortgage applications survey released by the Mortgage Bankers Association.

On an unadjusted basis, the index increased 1.4 percent compared with the previous week and was up 14.2 percent compared with the same week a year ago.

The refinance index rose 4.3 percent and the refinance share of mortgage activity increased to 57.6 percent of total applications, even though average mortgage rates were up slightly.

Here's what happened with interest rates for the week:

- 30-year fixed-rate mortgages increased to 6.07 percent from 5.82 percent.
- 15-year fixed-rate mortgages increased to 5.72.
- 1-year ARMs increased to 6.31 percent.

Source: Mortgage Bankers Association (12/12/07)