Purchase Applications Rose for Third Week (120810)

Applications for mortgages to purchase homes rose 1.8 percent last week compared to the previous week on a seasonally adjusted basis. On an unadjusted basis, purchase applications rose 21.3 percent compared to the previous week, which included Thanksgiving. Applications were up 12 percent compared to the same week a year ago. 

This is the third week that applications to purchase homes have increased, reaching the highest level since early May. 

The average contract interest rate for 30-year fixed-rate mortgages increased to 4.66 percent from 4.56 percent, while 15-year fixed-rate mortgages increased to 3.98 percent from 3.91 percent. 

Source: Mortgage Bankers Association (12/08/2010; blog distribution provided by Kenneth Bargers and Bargers Solutions residential real estate services located in Nashville, Tennessee.

Author: Kenneth Bargers

REALTOR®, Tennis Player, Titans, Vols & Preds Fan, Nashvillian... let's connect on Instagram, LinkedIn, Pinterest and Twitter. -- contact Kenneth at kb@bargers-solutions.com

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