July 19, 2011

On a seasonally adjusted basis, the pace of mortgage loan activity fell 5.1 percent for the week ended July 8, according to the Mortgage Bankers Association. The rate for 30-year mortgages decreased to 4.55 percent from 4.69 percent the previous week. The rate for 15-year mortgages decreased to 3.68 percent from 3.79 percent.