January 12, 2010

On a seasonally adjusted basis, the pace of mortgage loan activity fell 22.8 percent for the week ended Dec. 25 and fell another five-tenths of a percent the week ended Jan. 1, according to the Mortgage Bankers Association. Rates for 30-year loans jumped from 4.92 percent to 5.08 percent the week ended Dec. 25 and to 5.18 percent by Jan. 1. Fifteen-year mortgages increased from 4.34 percent to 4.62 percent over the two-week period.