Mortgage Applications Down on Lower Refinancing

Washington, DC, July 30, 2014 -- Mortgage application volume fell last week, according to the Mortgage Bankers Association.

MBA said its index of mortgage application activity, which includes both refinancing and home purchase demand, fell 2.2% in the week ended July 25.

The refinancing index declined 4.0%, while the loan requests for home purchases rose 0.2%.

Fixed 30-year mortgage rates averaged 4.33%.