Tags: Mortgage Applications | Home Loan | Demand | Rates

Mortgage Applications Fall Despite Lower Rates

Wednesday, 04 Jun 2014 07:46 AM

Applications for U.S. home mortgages declined last week as both refinancing and purchase applications decreased, 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 3.1 percent in the week ended May 30.

The MBA's seasonally adjusted index of refinancing applications fell 2.9 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, dropped 3.6 percent.

Fixed 30-year mortgage rates averaged 4.26 percent in the week, down 5 basis points from 4.31 percent the week before.

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

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Applications for U.S. home mortgages declined last week as both refinancing and purchase applications decreased, an industry group said on Wednesday.
Mortgage Applications, Home Loan, Demand, Rates
115
2014-46-04
Wednesday, 04 Jun 2014 07:46 AM
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