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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  November 25, 2009  |   Mortgage Applications Decline
Mortgage applications decreased 4.5 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly report.

On an unadjusted basis, the index decreased 5.8 percent with most of the decline in refinances. The unadjusted purchase index increased 4.9 percent compared with the previous week, but was down 13.7 percent compared to the same week last year.

Interest rates performed as follows:
  • 30-year fixed-rate mortgages decreased to 4.82 percent from 4.83 percent.
  • 15-year fixed-rate mortgages remained flat at 4.32 percent.
  • 1-year ARMs decreased to 6.66 percent from 6.85 percent.

Source: Mortgage Bankers Association (11/25/2009)

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