According to The Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage loan applications increased 1.1 percent last week from the week before. The Refinance Index rose to its highest level since December 10, 2010, increasing 0.9 percent. The seasonally adjusted Purchase Index gained 1.5 percent from a week earlier. Mortgage rates were also up, with the average contract interest rate for 30-year fixed-rate mortgages increasing to 4.69 percent from 4.60 percent the week before. More here.
Theresa Springer’s Blog
Mortgage Loan Demand Rises, So Do Rates
May 25, 2011
Leave a Reply