May 10, 2011

On a seasonally adjusted basis, the pace of mortgage loan activity increased 4 percent for the week ended April 29, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.76 percent from 4.8 percent the previous week. The rate for 15-year mortgages decreased to 3.96 percent from 4.03 percent.