Mortgage Application Volume Declines Last Week

Washington, DC, Feb. 11, 2015 -- Mortgage applications last week decreased 9% from one week earlier, according to the Mortgage Bankers Association.

The seasonally adjusted Purchase Index declined 7% from the previous week, while the Refinance Index decreased 10% from the previous week.

The refinance share of mortgage activity decreased to 69% of total applications from 71% the previous week.

The average interest rate for 30-year fixed-rate mortgages increased to 3.84% from 3.79%