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Mortgage Activity Falls

Mortgage Activity Falls
Applications for mortgages to purchase homes decreased 6.7 percent last week compared to the previous week on an adjusted basis, according to the Mortgage Bankers Association weekly index.

The unadjusted Purchase Index decreased 6.6 percent from the previous week and was down 29.4 percent compared to the same week a year ago.

This week’s report was not adjusted for the Columbus Day holiday.

Mortgage rates rose slightly last week:

·    30-year fixed-rate mortgages increased to 4.34 percent from 4.21 percent.
·    15-year fixed-rate mortgages increased to 3.74 percent from 3.62 percent.

Source: Mortgage Bankers Association

Posted by Michael Dunn @ 2:14 PM on 10/20/2010
Tags: National Real Estate News Buying your Home Real Estate News
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