Mortgage applications up 7.5% last week: MBA |
| MarketWatch - Jul 9, 2008 |
Applications filed for mortgages rose a seasonally adjusted 7.5% last week compared with the week before, coinciding with higher interest rates charged on mortgages, the Mortgage Bankers Association said Wednesday.
Both refinance and home-purchase applications contributed to the increase in filings, the Washington-based MBA reported in its weekly survey, which covers about half of all U.S. retail residential mortgage applications.
On a week-to-week basis, purchase applications were up a seasonally adjusted 6.7%, while refinancing filings were up 8.7%.
Still, total applications were down an unadjusted 18.1% for the week ended July 4, compared with the same week in 2007. Figures were adjusted to account for the Independence Day holiday.
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- Posted: 2008-07-09 10:54:07
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