The Real Deal Miami

Mortgage applications fell last week

September 16, 2009 11:17AM

Mortgage applications decreased for the week ending Sept. 11, according to the weekly applications survey by the Mortgage Bankers Association. The association’s index decreased 8.6 percent from one week earlier, on a seasonally adjusted basis. The index fell 18.3 percent week-over-week on an unadjusted basis and dropped 18.7 percent year-over-year. The association’s refinance index fell 7.4 percent from the previous week. All of the numbers were adjusted to account for the Labor Day holiday. The average interest rate for a 30-year fixed-rate mortgage rose to 5.08 percent from 5.02 percent. But the average interest rate for a 15-year fixed-rate mortgage fell to 4.41 percent from the previous week’s 4.45 percent. TRD