Saturday, August 05, 2006

Interest Rates at 4-month Low

Bankrate.com reports that "The benchmark 30-year fixed-rate mortgage fell 12 basis points to 6.65 percent ... One year ago, the mortgage index was 5.91 percent. Four weeks ago, it was 6.91 percent, and it was 6.89 percent two weeks ago."

To read more: Interest rates at 4-month low

P.S. Personal time takes the Author away until the end of the month. See you in September.

Wednesday, August 02, 2006

Application Volume Declines in Latest Survey

The Mortgage Bankers Association (MBA) reports that for the week ending July 28, "The Market Composite Index, a measure of mortgage loan application volume, was 527.6, a decrease of 1.2 percent on a seasonally adjusted basis from 533.8 one week earlier. This is the lowest that the index has been since May 2002. On an unadjusted basis, the Index decreased 1.4 percent compared with the previous week but was down 29.0 percent compared with the same week one year earlier."

To read more: July 28 Mortgage Loan Application Volume