Mortgage Purchase Applications Rise
Washington, DC, Oct. 10, 2012 -- Mortgage application volume fell last week as demand for refinancing declined but purchase applications rose to their highest levels since June, according to the Mortgage Bankers Association.
MBA said that mortgage application activity, which includes both refinancing and home purchase demand, fell 1.2% in the week ended on Oct. 5.
Refinancing applications fell 2%, while purchase applications rose 2.4%.
Fixed 30-year mortgage rates averaged 3.56% in the week, up from 3.53% the week before.