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| Mortgage Applications Climb for 2nd Week |
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(July 12, 2006) -- The number of U.S. mortgage applications rose again this week even though rates are at a four-year high, according to the Mortgage Bankers Association.
The MBA says its seasonally adjusted index of mortgage activity for the week ending July 7 was up 1 percent to 566.8 from the previous week's 561.0.
A 30-year fixed rate mortgage averaged 6.81 percent. Fixed rate 15-year mortgage rates averaged 6.40 percent, down slightly from the previous week. Rates on a one-year adjustable-rate mortgage (ARMs) increased to 6.41 percent.
The refinance share of applications fell to 34.0 percent from 35.0 percent the previous week.
Source: Reuters News , Julie Haviv (07/12/2006)
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