Wednesday, August 29, 2007
Week-to-week mortgage applications
CHICAGO (MarketWatch) -- The number of mortgage applications filed last week slipped 4.0% from the previous week, while the average interest rate on one-year adjustable-rate mortgages shot up, the Mortgage Bankers Association said Wednesday.
Also on a seasonally adjusted basis, applications for mortgages to purchase homes were down 4.0% on a week-to-week basis, according to the group's latest survey. And applications for loans to refinance existing mortgages were down 4.2% in the week ended Aug. 24.
The four-week moving average for all loans was up 0.3%. Compared with the same week in 2006, the volume of applications rose an unadjusted 10.6%, the MBA's data showed.
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Also on a seasonally adjusted basis, applications for mortgages to purchase homes were down 4.0% on a week-to-week basis, according to the group's latest survey. And applications for loans to refinance existing mortgages were down 4.2% in the week ended Aug. 24.
The four-week moving average for all loans was up 0.3%. Compared with the same week in 2006, the volume of applications rose an unadjusted 10.6%, the MBA's data showed.
click on heading for the complete article
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