Applications for U.S. home mortgages rose to their highest level since early June as reported by an industry group. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity increased 7.5 percent to 513.4 in the week ended July 4.

The seasonally adjusted index of refinancing applications climbed 8.7 percent to 1,379.3 last week, while the gauge of loan requests for home purchases rose 6.7 percent to 365.8 according to The Mortgage Bankers Association.

Both indexes are also at their highest since the week ending June 6. Reflecting the flood of applicants to programs sponsored by the Federal Housing Administration, the Mortgage Bankers Association government index surged 19.8 percent in the week. Fixed 30-year mortgage rates averaged 6.43 percent in the week, up 10 basis points from 6.33 percent the prior week.

 
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2 Comments on Increase in Mortgage Applications since June

Mike - Applying for these loans must have been priority for many who wanted to secure a fix loan.

07/09/2008 10:51 PM by Jennifer Fivelsdal, Rhinebeck NY (Keller Williams Realty)

Jennifer - That could be part of it. I wonder how the recent FannieMae and FreddieMac acquisition may play into the dynamics.   

07/12/2008 01:09 AM by Mike Wong Realtor, GRI (Keller Williams Realty Southwest)

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Real Estate Sales Person: Mike Wong Realtor, GRI (Keller Williams Realty Southwest)
Mike Wong Realtor, GRI
Sugar Land, TX
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Keller Williams Realty Southwest

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