Mortgage Application Volume Falls Last Week
Washington, DC, Aug. 8, 2012 -- Mortgage application volume fell last week 1.8% as interest rates for 30-year fixed-rate mortgages moved up, according to the Mortgage Bankers Association.
The refinance index decreased 2% from the previous week, while the purchasing index fell 1%, MBA said.
The share of applications filed to refinance an existing mortgage was unchanged from the prior week at 81%.
The average rate on 30-year fixed-rate mortgages edged up to 3.76% from 3.75% in the prior week.