Housing Mortgages Information

Rising Mortgage Rates Slow Application Activity

July 29, 2009 – 4:38 am Mortgage rates climbed for the second straight week, pulling down demand for mortgage applications, particularly for refinancing, according to a weekly industry survey. The Mortgage Bankers Association said average rates for a 30-year mortgage moved up 0.05 percentage points to 5.36% in the week ending July 24, which follows a rebound from 5.05% to 5.31% in the prior week. The jump in rates caused demand to shrink for the first time in four weeks....(read more)