Good News - Mortgage Applications Up 1%

The mortgage business was up slightly last week, after an adjustment to reflect the Columbus Day holiday, according to the Mortgage Bankers Association weekly Mortgage Applications Survey. Application volume was up almost 1%.

Mortgage interest rates were mostly flat:

• 30-year fixed-rate mortgages remained unchanged at 6.4 percent;
• 15-year fixed-rate mortgages increased to 6.09 from 6.03 percent;
• 1-year ARMs increased to 6.17 from 6.15 percent