May 18, 2010

On a seasonally adjusted basis, the pace of mortgage loan activity increased 3.9 percent for the week ended May 7, according to the Mortgage Bankers Association. The rate for 30-year mortgages fell to 4.96 percent from 5.02 percent the previous week. The rate for 15-year mortgages decreased to 4.32 percent from 4.34 percent.