Mortgage activity rises with rates mixed

March 9, 2011 at 2:38 PM
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WASHINGTON, March 9 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity increased in the week ending March 4, as long-term rates were mixed.

Interest rates for 30-year, fixed-rate mortgages rose from 4.84 percent to 4.93 percent with points falling from 1.29 to 0.87. Rates for 15-year fixed-rate contracts were unchanged at 4.17 percent, with points rising from 1.07 to 1.15, the MBA said.

The MBA's Market Composite Index, indicating the volume of new mortgage activity, rose 15.5 percent in the week. The Refinancing Index rose 17.2 percent, the trade group said.

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