May 25, 2010

On a seasonally adjusted basis, the pace of mortgage loan activity decreased 1.5 percent for the week ended May 14, according to the Mortgage Bankers Association. The rate for 30-year mortgages fell to 4.83 percent from 4.96 percent the previous week. The rate for 15-year mortgages decreased to 4.19 percent from 4.32 percent.