Mortgage Applications Fall Last Week
Washington, DC, Nov. 12, 2014 -- Applications for U.S. home mortgages fell last week as interest rates rose, according to the Mortgage Bankers Association.
MBA said its index of mortgage application activity fell 0.9% in the week ended Nov. 7.
The index of refinancing applications fell 1.9%, while the gauge of loan requests for home purchases rose 1.1%.
The refinance share of mortgage activity remained unchanged at 63% of total applications.
Fixed 30-year mortgage rates averaged 4.19% in the week.