Mortgage volume down in week
The volume of applications for U.S. mortgages decreased last week, falling by a seasonally adjusted 8.2 percent, an industry group said.
The Market Composite Index, which measures mortgage loan application volume, dropped from 1,245.7 to 1,143.8 in the week ending Jan. 2, the Mortgage Bankers Association said in a release Wednesday.
The Refinance Index also fell, dropping 12.3 percent to 5,904.5, the MBA said.
The average interest rate for 30-year, fixed-rate mortgages increased from 5.03 percent to 5.07 percent with points falling from 1.24 to 1.16, the organization said.
Rates for the average 15-year, fixed-rate mortgages decreased from 4.79 percent to 4.67 percent. Points in 15-year, fixed-rate mortgages fell from 1.26 to 1.16.
UPI
- Tarmac-delay: Virgin America Flight 404, 16 hours of nightmare (video)
- US real estate: Foreclosure prevention program not achieving its target
- Federal Reserve wants supervision of all U.S. banks
- Italy’s ENI seeks Nabucco life-belt for Gazprom’s sinking South Stream
- World Bank raises China growth forecast
- Asbestos victims and anti-asbestos activists demand worldwide ban
- US real estate: HARP to assist in mortgage refinancing
- Even Donald Trump faces foreclosure in US
- BBC: Airbus plans to sell its military planes to US
- BBC: US interest rates 'to stay low'
- Asia, US helps Mercedes Benz sales hit record high in 2006
- Dutch bear profit rises 26 percent
- Cricova: The Largest Underground Wine Cellar in the World
- Foreign direct investment in India doubles during 2006
- What does Remortgage mean?
- Toyota in talks to build new China plant
- DaimlerChrysler is not planning to manufacture trucks in India
- Oil extends to $68
- Sarah Larson's dirty past