Mortgage Purchase Applications Rise with Rates
Washington, DC, June 26, 2013 -- Overall mortgage application volume last week slipped 3% from the prior week as interest rates rose, the Mortgage Bankers Association said.
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The refinance index fell 5% from the previous week, while the purchasing index rose 2% from a week earlier.
The refinance share of applications decreased to 67%, the lowest level since July 2011, from the prior week's 69%.
The average rate on 30-year fixed-rate mortgages increased to 4.46%, the highest rate since August 2011, from the prior week's 4.17%.