Tags: Mortgage | Applications | Interest Rates | Home Loan Demand

Mortgage Applications Fall in Latest Week

Wednesday, 11 Mar 2015 08:21 AM

Applications for U.S. home mortgages fell last week as interest rates hit the highest level since January, 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 1.3 percent in the week ended March 6.

The MBA's seasonally adjusted index of refinancing applications fell 2.9 percent to the lowest level since January, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose 1.9 percent.

The refinance share of total mortgage activity fell to 60 percent of applications from 62 percent the week before.

Fixed 30-year mortgage rates averaged 4.01 percent in the week, the highest level since the week ending Jan. 2. Rates were up 5 basis points from 3.96 percent the previous week.

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
Personal-Finance
Applications for U.S. home mortgages fell last week as interest rates hit the highest level since January, an industry group said on Wednesday.
Mortgage, Applications, Interest Rates, Home Loan Demand
153
2015-21-11
Wednesday, 11 Mar 2015 08:21 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