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[Bullwinkle]

Mortgage applications up as rates ease for 5th straight week
Wednesday, January 11, 2006 12:15:10 PM
http://www.afxpress.com


WASHINGTON (AFX) -- Mortgage activity as tracked by the number of applications filed jumped 9.9% in the week ended Jan. 6 compared to the prior week, data compiled by the Mortgage Bankers Association show. Also on a seasonally adjusted basis, applications for mortgages to purchase homes rose 9.3%, while refinancing applications increased 9.9%. Refinancings accounted for 42.2% of total applications, down from 42.7% in the final week of 2005, while adjustable-rate mortgages slipped to 28.1% from 28.8%. Average contract interest rates for 30- and 15-year fixed-rate mortgages fell last week to 6.08% and 5.66%, respectively, from 6.15% and 5.74% a week earlier. One-year ARMs averaged 5.42% last week, nosing up from 5.41%. Overall, the four-week moving average for mortgage applications was off 0.8%, the MBA said

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