Mortgages Make Gains

Sep 28, 2011, 11:02 by R.E. Christian

The Mortgage Bankers Association says U.S. mortgage activity rose in the week ended Friday with long-term mortgage interest rates mixed.

Interest rates for 30-year, fixed-rate mortgages fell in the week from 4.29 percent to 4.25 percent with points dropping from 0.41 to 0.35, the trade group said.

Rates for 15-year, fixed-rate contracts rose from 3.46 percent to 3.47 percent with points unchanged at 0.45, the association said.

The banking group said its weekly mortgage activity index rose 9.3 percent while the refinancing index rose 11.2 percent.

Source: UPI