Mortgage Volume Rebounds Despite Higher Rates
2009/02/04, 8:41 pm
Filed under: 1 | Tags: , ,

Mortgage Volume Rebounds Despite Higher Rates
The volume of loan applications rebounded last week, rising 8.6 percent on a seasonally adjusted basis to 795.4 from 732.1 the previous week, according to the Mortgage Bankers Association weekly survey.

On an unadjusted basis, the index rose 28.1 percent compared with the previous week and decreased 26.9 percent compared with the same week a year ago.

Refinances continued to drive the market. The refinance share of mortgage activity increased to 73.2 percent of total applications, up slightly from 72.8 the previous week.

Mortgage rates rose slightly last week:

30-year fixed-rate mortgages increased to 5.28 percent from 5.22 percent;
15-year fixed-rate mortgages increased to 5.15 percent from 4.98 percent;
1-year ARMs increased to 6.09 percent from 5.96 percent.

Source: Mortgage Bankers Association (02/04/2009)

Leave a Comment so far
Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: