Tags: Mortgage | Applications | home | loans

Mortgage Applications Fall on Lower Refinancing Demand

Wednesday, 03 Apr 2013 07:46 AM

Applications for U.S. home mortgages fell last week, as a decline in refinancing activity offset higher demand for purchase loans, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 4 percent in the week ended Mach 29. It was the lowest level since March 15.

The MBA's seasonally adjusted index of refinancing applications fell 5.6 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose 1.4 percent.

The refinance share of total mortgage activity fell to 74 percent of applications from 75 percent the week before.

Fixed 30-year mortgage rates averaged 3.76 percent in the week, down 3 basis points from 3.79 percent the week before.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.


© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
FinanceNews
Applications for U.S. home mortgages fell last week, as a decline in refinancing activity offset higher demand for purchase loans, an industry group said on Wednesday.
Mortgage,Applications,home,loans
147
2013-46-03
Wednesday, 03 Apr 2013 07:46 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved