Mortgage Applications Rise 1.7 Percent

Investor's Business Daily (07/17/08) P. A2
The Mortgage Bankers Association reports that refinancing activity pushed home loan demand up for the week ended July 11. The group reports a rise in its application index to 522.2 from 513.4 a week earlier. Although requests to refinance existing mortgages rose 6.9 percent, applications to obtain purchase loans fell 1.7 percent. The increase in the application index came during a week in which the average interest on 30-year fixed mortgages fell to 6.22 percent.