MBA: Mortgage Applications Rose for First Time in Month as Rates Fell

Wednesday, 14 Sep 2011 09:42 AM

 

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Applications for U.S. home mortgages rose last week for the first time in a month as interest rates tumbled even further, an industry group said Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 6.3 percent in the week ended Sept. 9 compared to the week before.

The MBA's seasonally adjusted index of refinancing applications gained 6.0 percent, while the gauge of loan requests for home purchases climbed 7.0 percent.

The refinance share of mortgage activity rose to 77.3 percent of total applications from 77.1 percent.

Fixed 30-year mortgage rates averaged 4.17 percent in the week, down from 4.23 percent.

© 2014 Thomson/Reuters. All rights reserved.

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