Mortgage Purchase Applications Rise

Washington, DC, April 25, 2012 -- Mortgage application volume fell last week as interest in refinancing declined, but demand for new purchases improved, the Mortgage Bankers Association said.

MBA said its seasonally adjusted index of mortgage application activity declined 3.8% in the week ended April 20.

The index of refinancing applications dropped 5.6%, while the gauge of loan requests for home purchases gained 2.7%.

The refinance share of total mortgage activity decreased to 73.4% of applications from 75.2% the week before.

Fixed 30-year mortgage rates declined 4.04% from 4.05.