Mortgage Applications Fall Last Week

Washington, DC, Nov. 5, 2014 -- Mortgage application volume fell last week as interest rates increased, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activity fell 2.6 percent in the week ended Oct. 31.

The MBA's seasonally adjusted index of refinancing applications fell 5.5 percent, while the home purchase index rose 2.6 percent.

Fixed 30-year mortgage rates averaged 4.17 percent in the week, up 4 basis points from 4.13 percent the week before.