Tags: mortgage | applications | rates | home loan demands

Mortgage Applications Fall in Latest Week

Wednesday, 01 Jul 2015 07:45 AM

Applications for U.S. home mortgages fell last week as interest rates rose to their highest level since October 2014, 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 4.7 percent in the week ended June 26.

The MBA's seasonally adjusted index of refinancing applications fell 5.2 percent to the lowest level since December 2014, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 4.1 percent.

 

The refinance share of total mortgage activity fell to 48.9 percent of applications from 49.0 percent the week before.

Fixed 30-year mortgage rates averaged 4.26 percent in the week, the highest level since October 2014. They were up 7 basis points from 4.19 percent the previous week.

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 fell last week as interest rates rose to their highest level since October 2014, an industry group said on Wednesday.
mortgage, applications, rates, home loan demands
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2015-45-01
Wednesday, 01 Jul 2015 07:45 AM
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