Mortgage Applications Increase

Investor's Business Daily (05/15/08) P. A2
Home loan demand rose during the week ended May 9, marking the second consecutive week of increased application volume. The Mortgage Bankers Association reports that requests for loans jumped 2.9 percent. Lower interest rates helped push refinancing activity 6.5 percent higher, but applications for home purchases slipped 0.7 percent. As Treasury yields approach their highest level of the year, mortgage rates are starting to drift up.