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Mortgage applications fell last week as refinance down: MBA
April 9, 2014 / 11:04 AM / 4 years ago

Mortgage applications fell last week as refinance down: MBA

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

Homes are seen for sale in the northwest area of Portland, Oregon March 20, 2014. REUTERS/Steve Dipaola

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.6 percent in the week ended April 4.

The MBA’s seasonally adjusted index of refinancing applications fell 4.9 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose 2.7 percent.

Fixed 30-year mortgage rates averaged 4.56 percent in the week, unchanged from the week before.

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

Reporting by Luciana Lopez; Editing by Leslie Adler

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