According to The Mortgage Bankers Association’s Weekly Application Survey, the average contract interest rate for 30-year fixed-rate mortgages increased to 4.34 percent last week from 4.21 percent the week before. It was the first rate increase in six weeks. The Refinance Index dropped 11.2 percent from the previous week and the Purchase Index fell 6.7 percent. The four week moving average for the Market Composite Index, which measures total loan application volume, is up 0.4 percent. More here and here.
Theresa Springer’s Blog
Mortgage Rates Up For 1st Time In Six Weeks
October 20, 2010
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