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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (25350)	1/26/2005 10:37:02 AM
From: mishedlo	Respond to of 110194

Mortgage applications drop in latest week, MBA says [Russ is there more detail on this somewhere?] Wednesday, January 26, 2005 12:16:09 PM afxpress.com WASHINGTON (AFX) -- Mortgage applications volumes dropped 3.6 percent for the week ended Jan. 21 compared to the prior week, the Mortgage Bankers Association said. Also on a seasonally adjusted basis, the MBA's index tracking applications for mortgages to purchase homes fell 2.0 percent, while refinancing applications decreased by 5.7 percent. Refinancings accounted for 46.5 percent of total applications last week, down from 48.9 percent a week earlier, while adjustable-rate mortgages slipped to 31.7 percent of applications from 32.8 percent. The latest week's average contract interest rates for 30- and 15-year mortgages fell to 5.58 percent and 5.03 percent, respectively, from 5.64 percent and 5.14 percent a week earlier. The rate on one-year ARMs rose to 4.21 percent from 4.13 percent, according to the MBA's data