Mortgage Application Volume Down Again

Washington, DC, Aug. 21, 2013 -- Mortgage application volume fell again last week, falling 4.6% from the week before, the Mortgage Bankers Association said Wednesday.

The refinance index fell 8% from the prior week, while the purchase index edged up 1%.

Overall, the refinance share of mortgage activity edged down to 62% of total applications.

The average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan rose to 4.68% from 4.56%.