Mortgage Application Volume Rises on Rates
Washington, DC, Oct. 9, 2013 -- Mortgage application volume rose last week as interest rates fell, according to the Mortgage Bankers Association.
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MBA said its composite index rose 1.3% in the period ended Oct. 4, after falling 0.4% a week earlier.
The refinancing component increased 2.5%, a fourth consecutive gain, while the purchasing component declined 0.7%, its second straight weekly decrease.
The average rate for a 30-year fixed loan fell to 4.42%, the lowest since the period ended June 14, from 4.49% the previous week.