May 17, 2011

On a seasonally adjusted basis, the pace of mortgage loan activity increased 8.2 percent for the week ended May 6, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.67 percent from 4.76 percent the previous week. The rate for 15-year mortgages decreased to 3.81 percent from 3.96 percent.