Mortgage Applications Increase


Mortgage Bankers Association sends out a weekly survey to gain insight
into the mortgage application atmosphere. Results from the week of Oct.
22 were release last week – showing increased application activity. MBA
cites “near-record low interest rates” as the reason for the increase.

“The Market Composite Index, which measures mortgage loan activity,
rose 3.2 percent on a seasonally adjusted basis and 3.1 on a
non-adjusted basis from the previous week. “

In addition, the Purchase Index increased four ponts from 3.5 percent
to 3.9 percent. The average 30-rate fixed loan fell to 4.24 percent.

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