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Mortgage Interest Rates December Mortgage Applications
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and purchasing loans, for the week ended December 15 decreased 10.2 percent to 647.6 from the previous week's 721.2, which was its highest level in over a year.
Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.10 percent, up 0.08 percentage point from the previous week. Two weeks prior, 30-year mortgage rates fell to 5.98 percent, the lowest level since October 2005.
Interest rates, however, were below year-ago levels of 6.22 percent.
The MBA's seasonally adjusted purchase index fell 5.9 percent to 436.5. The index was also below its year-ago level of 453.1. The purchase index is considered a timely gauge of U.S. home sales.
Ahorre December 30, 2006 12:10 AM | About Mortgage and Home Loans | Business | Franchise Business