October 4, 2011

On a seasonally adjusted basis, the pace of mortgage loan applications increased 9.3 percent for the week ended Sept. 23, according to the Mortgage Bankers Association. The rate for 30-year mortgages dropped to 4.25 percent from 4.29 percent the previous week. The rate for 15-year mortgages rose to 3.47 percent from 3.46 percent.