Business News

Weekly mortgage volume rises marginally

Published: May 2, 2012 at 12:52 PM

WASHINGTON, May 2 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity rose marginally in the week ending Friday with interest rates mixed.

Mortgage activity rose 0.1 percent in the week. The trade group's Refinancing Index also rose 0.7 percent from the previous week, the MBA said.

Interest rates for 30-year, fixed-rate conforming mortgages rose from 4.04 percent to 4.05 percent with average points rising from 0.4 to 0.44.

Rates for 15-year, fixed-rate contracts fell from 3.32 percent to 3.31 percent, the lowest rate in the history of the survey. Points for 15-year loans were unchanged at 0.41.

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