San Diego Real Estate - Mortgage Applications See Increase

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

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NOV. 10, 2006
Mortgage Applications see sharp increase over past week
The total number of mortgage applications showed a significant increase of 8.8% over the past week. Refinance applications were up 11%. This made up 46.3% of total applications submitted.

Current mortgage rates continue to be rather low. 6.24% was the average rate for a 30-yr. fixed rate mortgage loan. Average rate for 15-yr. fixed rate mortgage loans went from 5.94% to 5.96%. Conversely, a 1-yr. ARM (adjustable-rate mortgage) went down to 5.89% from 5.93%.

Compared to 2005, mortgage applications for this same time of year are down 5%.

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