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MBA: Mortgage applications up, rates down

July 16, 2009
Bill Ransom   Founding Partner

Bill Ransom Founding Partner

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.

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