MBA: Mortgage applications up, rates downJuly 16, 2009
Submitted by Bill Ransom, REALTOR®.
Mortgage applications were up as rates fell for the week ended July 10, according to the Mortgage Bankers Association.
Applications rose 4.3 percent from the previous week on a seasonally adjusted basis. However, they were down 2.7 percent compared with the same week a year ago.
The portion of mortgages that were refinances increased to 54.9 percent of the total applications from 48.4 percent, while the adjustable-rate mortgage share of activity rose to 5 percent from 4.4 percent of total applications the week before.
For the entire story from the Atlanta Business Chronicle, please click here.