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Daily Real Estate News | September 5, 2007
Mortgage Activity Climbs Out of Summer Doldrums
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.
— REALTORŪ Magazine Online
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