La Jolla Real Estate, Del Mar real estate, Rancho Santa Fe Homes, Carmel Valley Real Estate, University City and
Downtown San Diego real estate, homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






Search the San Diego MLS
(includes all areas in San Diego County)



 October 14, 2007

Applications for New Mortgages Rise despite Increased Rates
The weekly survey of the Mortgage Bankers Association reports that after dropping for three weeks, applications for new mortgages showed an increase last week.
The measure of mortgage loan application volume, the Market Composite Index showed an increase of 2.4% at a rating of 652.0 from 636.7 on a seasonally adjusted basis. On an unadjusted basis, the index increased 2.4% compared to the previous week and was up 8.6% when compared to last year.

Applications for refinancing increased up to 46.2% of total loan applications. The ARM share of the activity declined to 13.6% of all applications.

On the whole, mortgage rates showed an increase:
30-yr fixed mortgages went from 6.32% up to 6.40%
15-yr fixed mortgages went from 5.95% up to 6.03%
1-yr ARMs dropped from 6.21% to 6.15%

Back to Real Estate News

Search San Diego Real Estate