Mortgage Applications Decline Last Week

Washington, DC, Sept. 10, 2014 -- Mortgage application volume fell last week as interest rates rose for the first time in four weeks, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index declined 7.2% in the week ended Sept. 5.

Refinancing applications dropped 10.7%, while loan requests for home purchases fell 2.6%.

Fixed 30-year mortgage rates averaged 4.27%, up from 4.25% the week before.