NEW YORK: Applications for US home mortgages fell last week as mortgage rates edged higher, data from an industry group showed on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 3.2 percent in the week ended Jan. 23.
The MBA's seasonally adjusted index of refinancing applications fell 5.1 percent to 2,605.4.
The gauge of loan requests for home purchases, a leading indicator of home sales, slipped 0.1 percent.
Fixed 30-year mortgage rates averaged 3.83 percent in the week, up from 3.80 percent in the previous week.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
Comments
Comments are closed.