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2005-07-06 11:55:09

By Julie Haviv NEW YORK (Reuters) - Applications for U.S. home mortgages rose for the first time in three weeks despite higher interest rates, an industry group said on Wednesday. The Mortgage Bankers Association said both purchasing and refinancing activity gained sharply in the week ended July 1. The MBA said its seasonally adjusted index of mortgage applications increased 9.6 percent to 853.4, more than offsetting the previous week's 1.1 loss. On a four-week moving average, the index...


Word of the Day
omphalos
  • The navel or umbilicus.
  • In Greek archaeology: A central boss, as on a shield, a bowl, etc.
  • A sacred stone in the temple of Apollo at Delphi, believed by the Greeks to mark the 'navel' or exact center-point of the earth.
'Omphalos' comes from the ancient Greek.
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