U.S. mortgage applications up 7.8% last week

14:02, May 19, 2011      

Email | Print | Subscribe | Comments | Forum 

The U.S. mortgage applications continued to rise last week, according to the latest Weekly Mortgage Applications Survey released Wednesday by the U.S. Mortgage Bankers Association (MBA).

The MBA said that the Market Composite Index of U.S. mortgage applications, a measure of mortgage loan application volume, increased 7.8 percent in the week ending May 13, 2011, on a seasonally adjusted basis from the previous week.

The seasonally adjusted Refinance Index rose 13.2 percent and is at its highest level since the week ending December 10, 2010. However, the seasonally adjusted Purchase Index dipped 3.2 percent.

The four week moving average for the seasonally adjusted Market Index increased 3.6 percent. The four week moving average was up 7.2 percent for the seasonally adjusted Refinance Index, while this average dropped 2.9 percent for the Purchase Index, according to the survey.

The MBA said the average contract interest rate for 30-year fixed-rate mortgages last week decreased to 4.60 percent from 4.67 percent, and the average contract interest rate for 15-year fixed-rate mortgages was down to 3.75 percent from 3.81 percent.

"The 30-year fixed mortgage rate is now 53 basis points below its 2011 peak, and has decreased for five straight week," said Michael Fratantoni, MBA's Vice President of Research. "Over this five week span, the refinance index has increased by about 33 percent."

The survey covers over 50 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts.

Source:Xinhua
 
 
     
 
BRICS Leaders Meeting 2011
 
Japan in aftershocks
 
     
 
 
 
  Weekly review  
 
May 12   No winners in U.S. hi-tech export controls
 
May 12   China should view livelihood issues from strategic perspective
May 11   Syria will not be another Libya
May 06   Beijing-Shanghai high-speed railway to launch 10-day trial run
May 14   The week in pictures
May 11   2000-year-old wine unearthed in Henan province
May 11   Scientist: China plans to build lunar research base
May 09   Apple employee, customer reach settlement after Beijing iPad brawl
May 12   Wenchuan Reconstruction: 'Chinese miracle' impresses world
May 12   No winners in U.S. hi-tech export controls
 
     
 
 

(Editor:陈乐乐)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • 3rd Anniversary Of Wenchuan Earthquake
  • Third China-U.S. Strategic and Economic Dialogue
Major headlines
Editor's Pick
  • Thousands gather at Weylandt's funeral
  • Inauguration ceremony held for National Theatre of China
  • Libyan opposition supporters protest in Benghazi
  • Mexico massacre suspect captured by Guatemala policemen
  • On May 18, "On China" by Henry Kissinger, former American Secretary of State, is on sale at Barnes & Noble in New York, U.S.
  • Advanced technologies dazzle at Beijing High-tech Expo
Hot Forum Dicussion