LOAN APPLICATIONS INCREASE 3.4 PERCENT

The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications, stood at 696.2 for the week ending Dec. 3, an increase of 3.4 percent on a seasonally adjusted basis from 673.3 one week earlier, according to a report released today by the Mortgage Bankers Association (MBA). On an unadjusted basis, the Index increased 43.8 percent for the week ending Dec. 3 compared with the previous week and increased 15.4 percent compared with the same week one year earlier.

The refinance share of mortgage activity decreased to 45.6 percent of total applications for the week ending Dec. 3 from 46.4 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 34.5 percent of total applications for the week ending Dec. 3 from 32.3 percent the previous week.

From December 8, 2004 C.A.R. Newsline

Reprinted with permission of the CALIFORNIA ASSOCIATION OF REALTORS®

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