Mortgage Application Volume Ticks Down

Washington, DC, Jan. 29, 2014 -- Mortgage application volume edged down 0.2% last week from the previous week, according to the Mortgage Bankers Association.

The refinance index fell 2%, while the purchase increased 2%.

Refinancing accounted for 62% of total applications, down from 64% the previous week.

The average interest rate for a 30-year, fixed-rate mortgage fell to 4.52% from 4.57%, which is the lowest rate since the end of November.

                   
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