U.S. mortgage activity slows down

Wednesday, April 27, 2011 10:01 AM By dwi

WASHINGTON, Apr 27 (UPI) -- The Mortgage Bankers Association said U.S. mortgage state attenuated 5.6 proportionality in the week success Apr 22, despite long-term welfare rates falling.

Interest rates for 30-year, fixed-rate mortgages dropped from 4.83 proportionality to 4.8 proportionality with points descending from 1.06 to 1.01. Rates for 15-year fixed-rate contracts lapse from 4.07 proportionality to 4.03 proportionality with points descending from 1.02 to 0.96, the MBA said.

The MBA's Refinancing Index also fell, descending 0.6 percent, the trade group said.

The figures do not allow an fitting for Good Friday.

Michael Fratantoni, MBA's vice chair of research and economics attributed the decline in mortgage state to rising agent Housing Administration premiums. This fueled previous state with "borrowers attempting to beat this deadline," he said.


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