Aug 09

US Mortgage Applications Fell Last Week

US Mortgage Applications Fell Last Week.

US Mortgage Applications Fell Last Week

US Mortgage Applications Fell Last Week

US Mortgage Applications fell last week on lower demand for both new purchase and refinance loans, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of US Mortgage Applications activity, which includes both refinancing and home purchase demand, fell 1.8 percent in the week ended Aug 3.

The MBA’s seasonally adjusted index of refinancing applications fell 1.9 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 1.4 percent.

The refinance share of total mortgage activity held steady at 81.2 percent of US Mortgage Applications from the week before.

Fixed 30-year mortgage rates averaged 3.76 percent in the week, up 1 basis point from 3.75 percent the week before.

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

Source (http://www.cnbc.com/id/48564240)

 

 

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