May 24, 2011

On a seasonally adjusted basis, the pace of mortgage loan activity increased 7.8 percent for the week ended May 13, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.60 percent from 4.67 percent the previous week. The rate for 15-year mortgages decreased to 3.75 from 3.81 percent.