Even as 30-year, fixed mortgage rates increased slightly--to 5.28 percent--refinancing applications increased last week, the Mortgage Bankers Association said Wednesday:
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 30, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 795.4, an increase of 8.6 percent on a seasonally adjusted basis from 732.1 one week earlier…
The Refinance Index increased 15.8 percent to 3906.3 from 3373.9 the previous week and the seasonally adjusted Purchase Index decreased 11.2 percent to 261.4 from 294.3 one week earlier…
The average contract interest rate for 30-year fixed-rate mortgages increased to 5.28 percent from 5.22 percent.
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