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)



 November 15, 2009

Mortgage Application Index Shows Decline
On a seasonally adjusted basis, mortgage applications increased just over 3% last week when compared with activity of the previous week. The bulk of the increases were from applications for loan refinancing.
The purchase index, when calculated on a seasonally adjusted basis as well, declined just over 11.5% from last week, and is currently at its lowest point since December of 2000.

Also on an adjusted basis, the purchase index dropped just over 13.5% when compared to previous week levels and is down just over 21.5% when compared to the same week of 2008.

The index for refinances showed an increase of nearly 11.5% and accounted for nearly 72% of all applications received.

Interest rates for the week are as follows:

- 30 yr. fixed rate mortgages dropped from 4.97% to 4.90%
- 15 yr. fixed rate mortgages did not change and remained at 4.33%
- 1 yr. ARM mortgages went up to 6.85% from 6.83%