Loan Applications are up this week:

Here is the latest data from the Mortgage Bankers Association:


The Mortgage Bankers Association said its seasonally adjusted index of home loan application activity increased 2.4% to 652.0 in the week ended Oct. 5.

The index has been fairly range bound in recent weeks, after slipping to about 607 both in February and again in July, and rising as high as about 691 in March.

The trade group's gauge of home purchase applications gained 2.1% to 420.2, and the refinancing measure rose 2.7% to 2,003.2 on a seasonally adjusted basis last week.

Many homeowners are locking in to a fixed rates, while others are happy to refinance to historic rates.

Refinancing requests represented 46.2% of total applications last week, up slightly from 46.0 the prior week, the MBA said. Adjustable-rate mortgages accounted for 13.6% of the total, down from 13.8%.

Average 30-year fixed mortgage rates increased 0.08 percentage point to 6.40% last week, which is 0.13 point higher than the same week a year ago, according to the trade group.

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Posted by Hayden G. on 10/11/2007 01:43 AM   Comments (0)   , ,  

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