Home Purchase Applications Rise 6.3%

Real Estate Broker/Owner with Deaton Group Realty

Home Purchase Applications Rise 6.3%

Applications to purchase homes increased 6.3 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.


On an unadjusted basis, purchases rose 4 percent compared to the previous week, but were down 38.8 percent from the same week a year ago.The Refinance Index decreased 3.1 percent from the previous week.

"Purchase applications increased last week, reaching the highest level since the end of May. However, purchase activity remains well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent below the level recorded one year ago," said Michael Fratantoni, MBA's vice president of research and economics.

Mortgage rates rose slightly last week:

  • 30-year fixed-rate mortgages increased to 4.5 percent from 4.43 percent.
  • 15-year fixed-rate mortgages increased to 4 percent from 3.88 percent.
  • 1-year ARMs increased to 7 percent from 6.95 percent.

Source: Mortgage Bankers Association (09/08/2010)

Posted by

To view all available properties, see my social business card, and read my real estat blog, go to

I am the Managing Broker of Deaton Group at Blackwood Team.  If you would like more information on any of the topics discussed in this blog, please contact me directly. Also, please visit my website at

Feel free to subscribe to my blog to keep up to date with my latest posts of tips & tricks. You can also sign up for my monthly email newsletter or see FREE Community Reports.

Also, let's connect on these great social networks:

   Follow Me on Facebook   Lets get Linkedin   My Outside Blog   Watch my Crazy Movies on YouTube