| Mortgage applications fell for the first time in four | | | | well above last year's level of 5.73%.Seasonally |
| weeks as demand hit the lowest level in almost three | | | | adjusted index of refinancing applications increased |
| years.According to the Mortgage Bankers Association | | | | slightly for the week, up to 1,609.2 from 1,608.5.The |
| weekly report, the seasonally adjusted index of | | | | refinancing share of total applications increased to |
| mortgage application activity for the week ended | | | | 41.5%, up from 40.6% the week prior. This marks the |
| August 25 decreased 0.9%, landing nearly 23% below | | | | highest level since February.Fifteen-year fixed-rate |
| last year's level for the same week.The decline | | | | mortgages averaged a rate of 6.06%, up from 6.04% |
| remained consistent with the slowdown being seen in | | | | the week prior. The one-year adjustable-rate |
| the housing market."We're still in the soft landing camp | | | | mortgage also saw an increase, up to 5.97% from |
| for the housing market," explained John Shin, senior | | | | 5.91%.ARMs made up 26.8% of total loan applications, |
| economist for Lehman Brothers. "We do see a sizable | | | | an increase from 26.4% the week prior.The MBA's |
| impact on the economy and expect that the slowing | | | | survey covers 50% of all US retail residential |
| housing market is going to trim roughly one percentage | | | | mortgage loans. Respondents include mortgage |
| point off of growth over the rest of this year and the | | | | bankers, commercial banks and thrifts.Martin Lukac |
| next year as well."For the sixth straight week, home | | | | represents and a finance web-company specializing in |
| refinancing demand increased as a result of | | | | real estate and mortgage rates. We specialize in daily |
| decreasing mortgage rates.Last week, the 30-year | | | | updates, mortgage news, rate predictions, mortgage |
| fixed-rate mortgage rate averaged 6.39%, well below | | | | rates and more. Find low home loan mortgage interest |
| June's four-year high of 6.86%. However, they were | | | | rates from hundreds of mortgage companies! |