Purchase Applications Rise 1.1%

Applications for mortgages to purchase homes rose 1.1 percent last week compared to the previous week on an adjusted basis that took into account the Thanksgiving holiday. The four-week moving average is up 3.8 percent on a seasonally adjusted basis.

On an unadjusted basis, purchase applications decreased 22.9 percent compared with the previous week, but were up 2.7 percent compared to the same week a year ago.

The refinance share of mortgage activity declined 21.6 percent due to rising interest rates. The interest rate for 30-year fixed-rate mortgages increased to 4.56 percent from 4.50 percent, while 15-year fixed-rate mortgages increased to 3.91 percent from 3.83 percent.

Source: Mortgage Bankers Association (12/01/2010)

Signup for our Newsletter

Neil D. Lyon CRB, CRS, GRI Cell: 505.660.8600 Direct: 505.954.5505

Sotheby's International Realty 326 Grant Avenue Santa Fe, NM 87501

Design by Santa Fe Web Design


Visit Sotheby's International Realty®

This web site is not the official web site of Sotheby's International Realty, Inc. Sotheby's International Realty, Inc. does not make any representation or warranty regarding any information, including without limitation its accuracy or completeness, contained on this web site. Equal Housing Opportunity.