Wednesday, January 12, 2011

MBA: Mortgage, refinancing applications fall - South Florida Business Journal:

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percent in the week ended June 5, accordingt to the . Refinancing applications fell 11.8 percent from the previou s week, while applications for new mortgages wereup 1.1 percent. Refinancingg made up 59.4 percentr of total applicationslast week, down from 62.4 percent the previousd week. That’s the lowest the refinance share has beensincee November. The share of adjustable-rate mortgages increased to 3.4 percenf from 3 percent of totak applications from theprevious week. The averagse interest rate for 30-year fixed-rate mortgages increaseds to 5.57 percent from 5.25 percent, with pointd increasing to 1.09 from 1.02.
The averag interest rate for 15-year fixed-ratre mortgages increased to 5.1 percent from 4.8 with points decreasing to 1.04 from 1.1. The average interestg rate for one-year ARMs increased to 6.75 percent from 6.61 percent, with points decreasingv to 0.1 from 0.15.

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