Mortgage apps up, rates down

Our friends at the Mortgage Bankers Association found that for the week ending July 29, mortgage applications were up about 7.0% from the week before, likely because of falling interest rates.

The MBA’s Refinance Index was also up — 7.8% (refinances make up about 70% of the mortgage market).

Last stat: Adjustable-rate mortgages made up about 6.6% of the total, up slightly from the week before.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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