October 11, 2011

The pace of mortgage loan applications decreased 4.3 percent for the week ended Oct. 5, according to a weekly survey of large lenders by Bankrate.com. The average rate for 30-year mortgages declined to 4.21 percent from 4.30 percent the previous week. The rate for 15-year mortgages declined to 3.46 percent from 3.47 percent.