Mortgage Activity Climbs with Rates Low

United Press International
May 26, 2010

 The Mortgage Bankers Association said its Market Composite Index rose 11.3 percent while the Refinancing Index rose 17 percent on a seasonally adjusted basis in the week.

During the week, the average interest rate for 30-year, fixed-rate mortgages fell from 4.83 percent to 4.8 percent with points unchanged at 1.08.

Rates for the average 15-year, fixed-rate mortgage rose from 4.19 percent to 4.25 percent, with points for 15-year contracts falling from 1.36 to 1.

For one-year, adjustable-rate mortgages, the average interest rate rose from 6.81 percent to 6.83 percent with points rising from 0.37 to 0.38, the MBA said.

Industry News

Industry Information