Mortgage Applications Fall on Higher Rates

Washington, DC, Jan. 30, 2013 -- Mortgage application volume declined last week as interest rates rose, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 8.1% in the week ended Jan 25.

Refinancing applications dropped 10.2%. The refinance share of total mortgage activity fell to 79% of applications from 82% the week before.

Purchase applications declined 1.8%.

Fixed 30-year mortgage rates rose to 3.67%, compared to 3.62% the week before.


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