From Realtor Magazine Online, Daily Real Estate News March 12, 2008
Mortgage applications were down 1.9 percent last week to a seasonally adjusted volume of 671.7, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the index decreased 1.4 percent compared with the previous week and was down 3.4 percent compared with the same week a year ago.
The slight decline reflected a 4.7 percent decline in the refinance index, while the purchases index increased 1.6 percent. The refinance share of mortgage activity slid from 52.4 percent the previous week to 50.6 last week.
Average interest rates generally increased:
* 30-year fixed-rate mortgages increased to 6.37 percent from 5.98 percent;
* 15-year fixed-rate mortgages increased to 5.72 percent from 5.26 percent;
* 1-year ARMs increased to 6.72 percent from 5.83 percent.
Source: Mortgage Bankers Association (03/12/2008)
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