All the latest mortgage news gathered daily from across the internet. http://www.all-mortgage-info.com LONDON (Reuters) - The number of loan approvals for home purchases fell in May by almost a quarter from a year ago, adding to growing evidence that the property market is running out of steam, data on Monday showed. http://www.reuters.co.uk/newsArticle.jhtml?type=personalFinanceNews&storyID=768679&section=finance&src=rss/uk/personalFinanceNews WASHINGTON -- Rates on 30-year mortgages resumed their decline this week, falling for the 10th time in the past 12 weeks. http://www.detnews.com/2005/realestate/0506/27/E03-226300.htm FURTHER evidence that the housing market has stabilised emerged today after the number of loans for house purchases hit their highest level of 10 months. http://www.thisislondon.co.uk/news/business/articles/timid401747?source=This%20is%20Money U.S. mortgage applications rose last week by the most in almost a year, as low interest rates contributed to a record number of requests for loans to buy houses. Applications to refinance mortgages also increased. http://www.detnews.com/2005/realestate/0506/27/G03-218413.htm We are now one year into the Federal Open Market Committee's campaign of raising short-term interest rates, and there have been some surprises along the way. The housing market is still humming along. The average 30-year fixed-rate mortgage has dropped from 6.3 percent to 5.66 percent. http://www.bankrate.com/brm/news/bank/20050627a1.asp Refinancing volume has tumbled, as has profitability, so these lenders offer increasingly sweet deals in a scramble for market share http://www.businessweek.com/bwdaily/dnflash/jun2005/nf20050627_9858_db016.htm?campaign_id=rss_daily Orlando - ORLANDO -- GMAC Commercial Mortgage Corporation (GMACCM) has provided $53 million in floating-rate refinancing for an Orlando, Fla., hotel. http://www.dbusinessnews.com/shownews.php?type_news=latest&newsid=32684 Statistics Mortgage interest rates in South Korea fell to a record low in May as lenders cut back rates to attract more customers, the central bank said Monday. http://au.biz.yahoo.com/050627/17/5208.html Homeowners with adjustable rate or interest-only loans are feeling the impact of the Fed's moves, says Greg McBride. http://biz.yahoo.com/brn/050627/16333.html?.v=1 SEOUL, June 27 Asia Pulse - Mortgage interest rates in South Korea fell to a record low in May as lenders cut back rates to attract more customers, the central bank said Monday. http://asia.news.yahoo.com/050627/4/231bb.html http://asia.news.yahoo.com/050627/4/231bb.html http://asia.news.yahoo.com/050627/4/231bb.html