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Home arrow Real Estate News arrow General News arrow New Requests for Home Loans climbed an inch higher

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New Requests for Home Loans climbed an inch higher
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Thursday, 07 September 2006

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NEW YORK -- U.S. home mortgages applications bordered higher as lower loan rates helped encourage more home purchases for the first time.

The improvement coincides with a drop in the rate on standard 30-year mortgages that finance about three-quarters of all U.S. homes.

The seasonally-adjusted index of total mortgage applications, including refinancings, rose 1.8 percent in the week ended Sept. 1 to 566.3, according to the Mortgage Bankers Association. The index is at its highest since early July, but is well below the year-ago level of 771.6, the association said in a statement.
 
The component index of home purchases increased 3.7 percent to 389.7, while the gauge of refinancing declined 0.9 percent to 1,594.7, the MBA said.

 

Edwina Baniqued

 
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