The Mortgage Bankers Association (MBA) figures released Wednesday show that for the week ending July 17, mortgage loan applications increased 2.9 percent compared to the week prior. These numbers are also up over the same period last year with last week’s figures showing a 6.6 percent rise over the same week in 2008.
Homeowners looking to refinance also appear to have increased as the MBA says refis rose 4 percent over the previous week.
These applications rose despite the fact that mortgage rates also increased, according to the MBA. The weekly report finds that the 30-year fixed-rate increased from 5.05 percent to 5.31 percent while the 15-year fixed-rate rose from 4.59 to 4.80.
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