U.S. mortgage activity declines in week

June 22, 2011 at 11:48 AM
| License Photo

WASHINGTON, June 22 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity declined in the week ending June 17, despite dropping long-term interest rates.

Interest rates for 30-year, fixed-rate mortgages rose from 4.51 percent to 4.57 percent with points falling from 1.04 to 0.91. Rates for 15-year, fixed-rate contracts rose from 3.67 percent to 3.7 percent with points dropping from 1.06 to 1.05, the association said.

The banking group said its weekly mortgage activity index fell 5.9 percent, while the refinancing Index rose 7.2 percent.

Related UPI Stories
Latest Headlines
Trending Stories
TSU shooting: 1 dead, 1 wounded in third shooting this week at Houston campus
Listeria threat prompts Whole Foods cheese recall
Russia says missiles aimed at Syria did not land in Iran
Captive orca breeding banned at California's SeaWorld
Wrong drug used in Oklahoma execution