Daily Real Estate News  |  July 22, 2009  |   Mortgage Applications Rise Slightly
Mortgage applications were up 2.8 percent last week with the Mortgage Bankers Association weekly index rising to 528.9 from 514.4 the previous week on a seasonally adjusted basis.

On an unadjusted basis, the index increased 2.9 percent from the previous week and was up 6.6 percent compared with the same week a year ago.

The purchase index was up 1.3 percent, while the refinance index rose 4 percent, accounting for 55.5 percent of total applications.

Mortgage rates also jumped last week:

• 30-year fixed-rate mortgages increased to 5.31 percent from 5.05 percent;
• 15-year fixed-rate mortgages increased to 4.80 percent from 4.59 percent;
• 1-year ARMs increased to 6.50 percent from 6.47 percent.

Source: Mortgage Bankers Association (07/22/2009)