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Mortgage Apps Rise After New Years

Posted on January 19, 2010 by tim in Mortgage

Mortgage application volume increased 14.3% last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.

On an unadjusted basis applications rose 66%. The increase reflects a shortened week due to the New Year’s holiday.

Most of the increase was in refinances, which rose 73.9% from the previous week’s unadjusted index. The unadjusted purchase index rose 48.8% compared to the previous week and was down 24.9% compared to the same week a year ago. Interest rates slipped:

  • 30-year fixed-rate mortgages decreased to 5.13% from 5.18%.
  • 15-year fixed-rate mortgages decreased to 4.45% from 4.62%.
  • 1-year ARMs increased to 6.83% from 6.42%.

Source: Mortgage Bankers Association


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