U.S. mortgage applications fell last week: MBA

NEW YORK Wed Mar 19, 2014 7:14am EDT

Single family homes for sale are seen in San Marcos, California October 25, 2013. REUTERS/Mike Blake

Single family homes for sale are seen in San Marcos, California October 25, 2013.

Credit: Reuters/Mike Blake

Related Topics

NEW YORK (Reuters) - Applications for U.S. home mortgages fell last week as both purchase and refinancing applications slipped, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.2 percent in the week ended March 14.

The MBA's seasonally adjusted index of refinancing applications fell 1.3 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, dipped 0.9 percent.

Fixed 30-year mortgage rates averaged 4.50 percent in the week, down 2 basis points from 4.52 percent the week before.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.

(Reporting by Caroline Valetkevitch)

FILED UNDER:

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.