NEW YORK Feb 27 Applications for U.S. home
mortgages sagged for a third week in a row last week, even as
mortgage rates eased slightly, an industry group survey showed
The Mortgage Bankers Association said its seasonally
adjusted index of mortgage application activity, which includes
both refinancing and home purchase demand, fell 3.8 percent in
the week ended Feb. 22.
The MBA's seasonally adjusted index of refinancing
applications slipped 3.3 percent, while the gauge of loan
requests for home purchases, a leading indicator of home sales,
dropped 5.2 percent.
The refinance share of total mortgage activity was unchanged
at 77 percent of applications, holding at the lowest level since
Fixed 30-year mortgage rates averaged 3.77 percent, down 1
basis point from 3.78 percent the week before.
The survey covers over 75 percent of U.S. retail residential
mortgage applications, according to MBA.
(Reporting by Leah Schnurr; Editing by Leslie Adler)