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Posted by parmjudge on June 21, 2006, 11:40 am
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U.S. mortgage applications fell slightly last week, led by a decline in
home refinancing loans as interest rates hit their highest in four
years. seasonally adjusted index of mortgage application activity for
the week ended June 16 decreased 0.8 percent to 567.6 from the previous
week's 571.9.Borrowing costs on 30-year fixed-rate mortgages, excluding
fees, averaged 6.73 percent, up 0.12 percentage point from the previous
week, its highest level since May 10, 2002 when it reached 6.76
percent.
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