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Date: Wednesday 09 Jul 2008

LONDON (ShareCast) - Applications filed for US mortgages rose 7.5% during the week ended 4 July, according to the Mortgage Bankers Association.

The MBA's application index rose to 513.4 during the week, from 477.7 the prior week, after an adjustment made for the Independence Day holiday.

Purchase volume increased 6.7% to 365.8, while refinancing applications climbed 8.7% to 1,379.3 last week.

Refinancings accounted for 37.3% of all applications filed compared with 36.8% the previous week.

Interest rates for 15-year fixed-rate mortgages increased to 5.94% from 5.90%, with the average interest charged on 30-year fixed-rate mortgages up to 6.43% from 6.33% the week before.

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