Mortgage Applications Down in Latest Week

Washington, DC, Jan. 25, 2012 -- Mortgage applications fell 5% last week as home purchases and mortgage refinancing activity decrease, according to the Mortgage Bankers Association.

MBA said its refinance index alone fell 5.2% from the previous week. Meanwhile, the seasonally-adjusted purchase index decreased 5.4%.

The same survey said the refinance share of mortgage activity fell from 82.2% to 81.3% in the latest period.

Meanwhile, the average interest rate on a 30-year, fixed-rate mortgage increased to 4.11% from 4.06% a week earlier, and the 15-year rate increased to 3.40%, from 3.33%.