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| Mortgage Activity Climbs Out of Summer Doldrums |
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(September 5, 2007) --
Mortgage applications were up last week, after three sliding weeks, according to the Mortgage Bankers Association's weekly survey.
The mortgage applications index rose by a seasonally adjusted 1.3 percent to 622.9. On an unadjusted basis, the index slid 0.2 percent compared with the previous week, but was up 10 percent compared with the same week a year ago.
The refinance share of mortgage activity increased to 41.4 percent of total applications.
Mortgage rates were up slightly, too:
- 30-year fixed-rate mortgages increased to 6.42 percent from 6.41 percent.
- 15-year fixed-rate mortgages remained unchanged at 6.1 percent.
- One-year ARMs increased to 6.52 from 6.51 percent.
— REALTOR® Magazine Online |
| Reprinted from REALTOR® Magazine Online (http://www.realtor.org/realtormag), September 5, 2007 with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2007. All rights reserved. |
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