Mortgage Applications Decline Last Week

Washington, DC, Nov. 26, 2014 -- Mortgage applications last week fell 4.3% from one week earlier, according to the Mortgage Bankers Association.

The Refinance Index decreased 4% from the previous week, while the seasonally adjusted Purchase Index decreased 5%.

The unadjusted Purchase Index was 10% lower than the same week one year ago.

The refinance share of mortgage activity increased to 63% of total applications from 61% the previous week.

The average interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 4.15% from 4.18%.