Mortgage Applications Rise on Lower Rates

Washington, DC, May 21, 2014 — Mortgage application volume rose last week as interest rates declined, according to the Mortgage Bankers Association.

MBA said its index rose 3.6% in the week ending May 9.

The index of refinancing applications rose 6.8%, while the gauge of loan requests for home purchases edged down 0.1%.

Fixed 30-year mortgage rates averaged 4.39%, down from 4.43% the week before.