US Mortgage Applications rise in the current week

Written August 19, 2009 at 7:29 AM EST by  

On the back of lower rates and lower prices (and tax benefit for new home buyers), the Mortgage Applications rose by 5.6% in the current week.  Within that number the Purchase index rose 3.9% while the Refinance index rose by 6.9%.  The average rate on a 30 year mortgage fell to 5.15% from 5.37% last week. One year ago the average rate was 6.47%.

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