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July 2008 Refinancing Loan Applicaitons

The Mortgage Bankers Association on reported a 2.8% seasonal adjusted increase in total home loan applications last week compared to the week before. Despite the gain, the MBA's market composite index is down 33.7% compared to a year ago.

Leading the increase was a 4.4% rise in the index that tracks refinancings, followed by a 1.8% gain in purchase loans. As a result, the refinance share of applications edged up from 35.2% to 35.9%, while the adjustable-rate mortgage (ARM) share dipped from 7.3% to 6.9%.

Hipotecas Prestamos August 7, 2008 10:51 AM