Skip navigation
Watchlist Sponsored By :

Current DateTime: 10:48:47 10 Jul 2009
LinksList Documentid: 24355697
  • Highest Grossing Movies

      What are the highest grossing movies of all time, adjusted for inflation? Click ahead to find out!

  • Most Expensive Places To Live

      Each year, Mercer Consulting assembles its ranking of the most expensive places to live. Mercer compiles information from 143 cities worldwide.

  • Recession-Resistant US Cities

      Some cities have been hit much harder than others during the recession. Here are the metro areas faring the best.


Current DateTime: 10:48:47 10 Jul 2009
LinksList Documentid: 24890560
  • Boom, Bust and Blame

      The inside story of the economic crisis that has gripped the entire world.

  • E3: Gaming's Cutting Edge

      North America's premier computer and video game trade show draws tens of thousands of professionals to experience the future of interactive entertainment.

  • The Fall of GM

      A look into the fall of General Motors as the automaker heads toward bankruptcy and an effective nationalization.

Mortgage Applications Fall to Lowest Level This Year
By: Reuters | 27 Feb 2008 | 11:25 AM ET
Text Size

CNBC.com

Applications for U.S. home mortgages plunged to their lowest level this year, as rising long-term interest rates curbed incentives to refinance, an industry group's data showed on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity dropped 19.2 percent to 665.1 in the week ended Feb. 22.

It marked the third straight week of a decline in the index, pushing home loan demand down to the lowest level in 2008.

The MBA's seasonally adjusted index of refinancing applications plunged 30.4 percent to 2,458.9 last week, its lowest since December.

The decline came as the average 30-year fixed mortgage rate climbed to 6.27 percent from 6.09 percent in the previous week.

The 30-year rate has risen 0.78 percentage point since mid-January amid concerns short-term interest rate cuts by the Federal Reserve will spark faster inflation.

Mortgage applications earmarked for home purchases were little changed, with the MBA's seasonally adjusted purchase index edging up 0.2 percent to 358.2, the association said.

Refinancing applications decreased to 52 percent of the total from 61.7 percent in the previous week, it said.

Copyright 2009 Reuters. Click for restrictions.
Tools:
Print EmailAdd This share icon


Current DateTime: 09:59:41 10 Jul 2009
LinksList Documentid: 29778428

Current DateTime: 01:04:09 10 Jul 2009
LinksList Documentid: 29779196

Current DateTime: 10:42:21 10 Jul 2009
LinksList Documentid: 29779199

Current DateTime: 01:05:34 10 Jul 2009
LinksList Documentid: 29779198
CNBCCNBC
About CNBC  |  Site Map  |  Privacy Policy  |  Terms of Service  |  Video Reprints  |  Advertise  |  Help  |  Contact
Partners: AOL Money  |  BloggingStocks.com
CNBC is a Division of NBC Universal
  Data is a real-time snapshot *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
Thomson ReutersThomson Reuters