Wednesday, November 29, 2006
Mortgage applications fall
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NEW YORK (CNNMoney.com) -- Mortgage applications continued its downward fall despite a drop in mortgage rates to their lowest level since January, an industry trade group's data showed Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended Nov. 24 fell 3.9 percent to 599, from 623.6 one week earlier.
The 30-year fixed-rate mortgage remained at 6.13 percent, its lowest level since January 2006.
The group's seasonally-adjusted refinance index decreased by 9.6 percent to 1749.6 from 1935.3 the previous week and the purchase index increased by 1.3 percent to 406.7 from 401.4 one week earlier.
NEW YORK (CNNMoney.com) -- Mortgage applications continued its downward fall despite a drop in mortgage rates to their lowest level since January, an industry trade group's data showed Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended Nov. 24 fell 3.9 percent to 599, from 623.6 one week earlier.
The 30-year fixed-rate mortgage remained at 6.13 percent, its lowest level since January 2006.
The group's seasonally-adjusted refinance index decreased by 9.6 percent to 1749.6 from 1935.3 the previous week and the purchase index increased by 1.3 percent to 406.7 from 401.4 one week earlier.
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