Mortgage Application Volume Declines

Washington, DC, Feb. 12, 2014 -- Mortgage application volume fell last week as both purchase and refinancing applications declined, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activity fell two% to 397.2.

The interest rate on fixed 30-year mortgages averaged 4.45% last week, down from 4.47% the previous week.

The index of refinancing applications fell 0.2%, while the index for home purchases fell 5.0%.