Posted by OR on 9/7/11 10:14am
Msg #396560

MBA mortgage apps. from ratealert.

Early this morning the weekly MBA mortgage applications for last week showed minor gains in purchases but a decline in re-finances. The composite index for the week -4.9%. Low rates aren't boosting demand for refinancing or home purchasing, according to the Mortgage Bankers Association whose refinance index fell for the third straight week, down 6.3% in the September 2 week, with the purchase index up only 0.2% to hold near record lows. The 30-year mortgage rate, down nine basis points in the week to 4.23%, is near the record the low of last October. The 15-year rate, down eight basis points at 3.41%, is at a record low.