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Residential Mortgage Home Loan Refinancing

June 5 2008 - Mortgage applications declined for the second week in a row, falling 15.3 percent on a seasonally adjusted basis to 502.3 from 593.3 the previous week, according to the Mortgage Bankers Association’s weekly survey.

On an unadjusted basis, the index decreased 24.2 percent compared with the previous week and was down 20.3 compared with the same week last year. Most of the decline was in applications to refinance with the refinance index decreasing 25.7 percent. The purchase index decreased 5.4 percent.

Mortgage rates continued their upward path.

* 30-year fixed-rate mortgages increased to 6.17 percent from 5.96 percent;
* 15-year fixed-rate mortgages increased to 5.7 percent from 5.49 percent;
* 1-year ARMs decreased to 6.8 percent from 6.92.

Hipotecas Prestamos June 4, 2008 01:17 PM

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