Home Purchase Mortgage Applications Rise

Washington, DC, Dec. 3, 2014 -- Mortgage application volume fell last week as refinancing applications declined, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activity fell 7.3% in the week ended Nov. 28.

Refinancing applications fell 13.4%, while home purchase applications, a leading indicator of home sales, rose 2.5%.

Fixed 30-year mortgage rates averaged 4.08% in the week.