WASHINGTON, May 25 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity increased 1.1 percent in the week ending May 20, despite a rise in long-term interest rates.
Interest rates for 30-year, fixed-rate mortgages rose from 4.6 percent to 4.69 percent with points falling from 0.93 to 0.69. Rates for 15-year, fixed-rate contracts rose from 3.75 percent to 3.78 percent with points dropping from 1.22 to 1.04, the association said.
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