Refinancing Boosts Home-Loan Applications(December 8, 2005) -- Despite higher interest rates, mortgage applications jumped last week for the first time in a month, the Mortgage Bankers Association reports.Mortgage applications rose 5.2 percent to 656.7. The increase was driven by a 7 percent hike in refinancing requests. It was the first time in seven weeks that refinancing figures rose.Meanwhile, demand for purchase applications climbed 4 percent, marking the second straight weekly increase.Borrowing costs on 30-year fixed-rate mortgages averaged 6.32 percent, up from 6.20 percent the week before.
Source: Investor's Business Daily (12/08/05)
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