Washington, DC, March 26, 2014 -- Mortgage application volume last week fell 3.5% on a seasonally adjusted basis from the previous week, the Mortgage Bankers Association said.
Application volume has volume in five of the past six weeks according to the MBA.
On an unadjusted basis, volume declined 3% from a week earlier. The refinance index decreased 8%, while the purchase index rose 3%.
The average rate on a 30-year fixed-rate mortgages rose to 4.56% from 4.5% the previous week.