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Wednesday May 11, 09:58
U.S. mortgage applications rose 9.4% last week
(by Peter Van Bruggen)

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U.S. mortgage applications rose 9.4% last week U.S. mortgage applications rose 9.4% to 781.0 in the week ended May 6, according to the Mortgage Bankers Association. Index of refinancing applications rose 9.8% to 2263.3.The MBA’s purchase index was up 9.4% to 526.2. Refinancings accounted for 39.2% of total applications, up from the prior week’s 39.1%.

Last week interest rates climbed, due to the strong demand for mortgages. Average fixed 30-year mortgage rate rose 0.03% to 5.77% last week.

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Read the related news and articles:
19 May 2005 03:01 PM U.S. mortgage rates fell to 5.71% last week: Freddie Mac
19 May 2005 07:50 AM Regulators prepare new guidelines on credit-risk management of first-time mortgages
19 May 2005 07:48 AM Letters of credit increasingly used to finance property investment
18 May 2005 01:32 PM U.S. home mortgage applications tumbled 10.5%
17 May 2005 02:43 PM ARMs and interest-only mortgages take over mortgage market
 


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