Mortgage Applications Down Last Week

Washington, DC, Aug. 15, 2012 -- Applications for U.S. home mortgages declined last week, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activity fell 4.5% in the week ended Aug 10.

Home purchase applications dropped 2%. The measure of applications for refinancing was down 5.1%.

The refinance share of total mortgage activity eased to about 81% of applications from 81.2% the week before.

Fixed 30-year mortgage rates were unchanged but still at historically low levels at an average 3.76%.