Mortgage applications to purchase homes rose 3.9 percent last week compared to the previous week on an adjusted basis.
On an unadjusted basis, purchases rose 3.5 percent compared with the previous week, but were 30.3 percent lower than it was the same week a year ago.
Including mortgage applications to refinance, total applications increased 3.2 percent on an adjusted basis.
Mortgage rates were the second lowest ever observed by the MBA’s weekly survey:
- 30-year fixed-rate mortgages decreased to 4.25 percent from 4.34 percent.
- 15-year fixed-rate mortgages decreased to 3.67 percent from 3.74 percent.
Source: Mortgage Bankers Association (10/27/2010)