Mortgage Refinancing Falls Eighth Straight Week

Washington, DC, April 11, 2012 -- Mortgage application volume declined last week as demand for refinancing fell, according to the Mortgage Bankers Association.

MBA said its index of mortgage application activity fell 2.4% in the week ended April 6.

Refinancing applications declined 3.1%. Requests for home purchases fell 0.5%.

The refinance share of total mortgage activity eased for the eighth week in a row to 70.5% of applications from 71.2% the week before.

Fixed 30-year mortgage rates averaged 4.10%, down from 4.16% the prior week.