Mortgage Applications Down 38 Percent
The Mortgage Bankers Association reported that "Mortgage applications declined 1.2 percent last week compared to the previous week on an adjusted basis."
"On an unadjusted basis ... they were 36.8 percent lower than they were the same week a year ago."
"Most mortgage rates were at their lowest point since mid-May:
- 30-year fixed-rate mortgages decreased to 4.75 percent from 4.82 percent.
- 15-year fixed-rate mortgages decreased to 4.19 percent from 4.23 percent.
- 1-year ARMs decreased to 7.05 percent from 7.07 percent."
For the full story please refer to:
http://www.realtor.org/RMODaily.nsf/pages/News2010062303?OpenDocument
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