Mortgage Applications Fall Last Week

Washington, DC, Aug. 14, 2013 -- Mortgage application volume declined last week, falling 4.7% from a week earlier, the Mortgage Bankers Association said.

The refinance index decreased 4% and the purchase index also declined 5% from the prior week.

The refinance share of mortgage activity remained at 63% of total applications.

The average interest rate for a 30-year, fixed-rate mortgage ticked down to 4.56% from 4.61%.