unadjusted basis

Mortgage Applications Fall Again

Mortgage applications declined again last week, falling 12.3 percent on a seasonally adjusted basis compared with the previous week.

Most of the decline was in refinances, which fell 16.2 percent. The seasonally adjusted purchase index decreased 5.2 percent.

On an unadjusted basis, the purchase index declined 4.8 percent and was down 15.4 percent compared with the same week a year ago.

Except for 15-year rates, mortgage rates were down slightly:

* 30-year fixed-rate mortgages decreased to 5.04 percent from 5.07 percent.
* 15-year fixed-rate mortgages increased to 4.53 percent from 4.51 percent.
* 1-year ARMs decreased to 6.79 percent from 6.86 percent.

Source: Mortgage Bankers Association (10/28/2009)

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Elliott Robinson, JD – Associate Broker
Keller Williams Realty Metro Atlanta
315 West Ponce de Leon Ave., Ste. 100
Decatur, GA 30030
(404) 431-2117
Web: www.elliottyouragent.com
Blog – www.elliottonrealestate.com
Twitter – http://twitter.com/elliottrob