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Wednesday, December 8, 2010

Purchase Applications Rose for Third Week

Daily Real Estate News, December 8, 2010

Applications for mortgages to purchase homes rose 1.8 percent last week compared to the previous week on a seasonally adjusted basis. On an unadjusted basis, purchase applications rose 21.3 percent compared to the previous week, which included Thanksgiving. Applications were up 12 percent compared to the same week a year ago.

This is the third week that applications to purchase homes have increased, reaching the highest level since early May.

The average contract interest rate for 30-year fixed-rate mortgages increased to 4.66 percent from 4.56 percent, while 15-year fixed-rate mortgages increased to 3.98 percent from 3.91 percent.

Source: Mortgage Bankers Association (12/08/2010)
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