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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: TH who wrote (21711)	1/19/2005 8:45:17 AM
From: mishedlo	Read Replies (1) of 116555

Mortgage applications volume jump 16.2% in latest week Wednesday, January 19, 2005 12:34:33 PM afxpress.com WASHINGTON (AFX) -- Applications for mortgages jumped 16.2 percent on a seasonally adjusted basis in the week ended Jan. 14, the Mortgage Bankers Association's latest survey shows. Strength was seen both in mortgages to purchase homes and in refinancings, as reflected in respective increases of 14.0 percent and 19.1 percent compared to the prior week. Refinancings accounted for 48.9 percent of mortgage volumes, off from the prior week's 49.0 percent, while adjustable-rate mortgages nosed up to 32.8 percent from 32.7 percent. According to the MBA, average contract interest rates slipped across the board last week. Rates on 30- and 15-year fixed-rate mortgages fell to 5.64 percent and 5.14 percent, respectively, from 5.70 percent and 5.17 percent on a week-to-week basis. The rate on one-year ARMs averaged 4.13 percent last week, off from 4.16 percent a week earlier

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