May 3, 2011

On a seasonally adjusted basis, the pace of mortgage loan activity decreased 5.6 percent for the week ended April 22, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.80 percent from 4.83 percent the previous week. The rate for 15-year mortgages decreased to 4.03 from 4.07 percent.