Tuesday, August 25, 2009
Mortgage applications bounced back last week with the Mortgage Bankers Association market index rising 5.6 percent on a seasonally adjusted basis compared to the previous week.
On an unadjusted basis, the index increased 4.8 percent and was up 25 percent compared with the same week a year ago.
The current fluctuation of mortgage rates has influenced refinances more than purchases. The refinance index rose 6.9 percent last week after falling 7.2 percent the previous week, reflecting declining mortgage rates. The purchase index, which has trended upward gradually, rose 3.9 percent.
Here are the average performances of mortgage rates this week:
• 30-year fixed-rate mortgages decreased to 5.15 percent from 5.38 percent.
• 15-year fixed-rate mortgages decreased to 4.52 percent from 4.71 percent.
• 1-year ARMs decreased to 6.66 percent from 6.71 percent.
On an unadjusted basis, the index increased 4.8 percent and was up 25 percent compared with the same week a year ago.
The current fluctuation of mortgage rates has influenced refinances more than purchases. The refinance index rose 6.9 percent last week after falling 7.2 percent the previous week, reflecting declining mortgage rates. The purchase index, which has trended upward gradually, rose 3.9 percent.
Here are the average performances of mortgage rates this week:
• 30-year fixed-rate mortgages decreased to 5.15 percent from 5.38 percent.
• 15-year fixed-rate mortgages decreased to 4.52 percent from 4.71 percent.
• 1-year ARMs decreased to 6.66 percent from 6.71 percent.
posted by Avoid foreclosure, We buy houses, Stop foreclosure
@ 7:24 AM
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