From Realtor Magazine Online, Daily Real Estate News January 9, 2008
Thanks to falling mortgage rates and the ending of the holiday season, mortgage loan application index rose 32.2 percent to 706 on an adjusted basis from the previous week, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the index rose 81.1 percent compared to the previous week and was up 8.7 percent compared with the same week a year ago.
The refinance share of mortgage activity increased to 57.7 percent, up from 50.9 the previous week.
Mortgage rates generally declined:
- 30-year fixed-rate mortgages decreased to 5.73 percent from 6.05 percent.
- 15-year fixed-rate mortgages decreased to 5.21 percent from 5.61 percent.
- 1-year ARMs increased to 6.04 percent.
Source: Mortgage Bankers Association (01/09/2008)
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