Mortgage Application Volume Rises

Washington, DC, Oct. 27, 2010 -- Mortgage application volume rose last week as consumers sought to take advantage of near-record low interest rates, according to the Mortgage Bankers Association.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications increased 3.2% for the week ended October 22.

Refinancing applications increased 3.0%, while purchase applications increased 3.9%.

Rates for 30-year fixed rate mortgages averaged 4.25%.