Aug 03, 2011
Mortgage apps up, rates down
03 Aug 2011
Posted by Andrew Kantor
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.