Mortgage applications at 4-month high as rates fall ~ Last week, mortgage applications surged to their highest level since mid-May as consumers were lured by the lowest interest rates in months, The Mortgage Bankers Association said this morning. Rates on 30-year fixed mortgages were below 5% for a third week, hitting a four-month low. Applications to buy a home climbed to the highest level since early January. The MBA's seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Oct. 2 increased 16.4% to 756.3 - the highest level since the week ended May 22.http://www.usatoday.com/money/economy/housing/2009-10-07-mortgage-applications-rates_N.htm
