WASHINGTON -- Mortgage applications in the U.S. fell for the first time in four weeks as home purchases and refinancing declined.
The Mortgage Bankers Association’s (MBA) index dropped 1.2 percent in the period ended May 23 after climbing 0.9 percent the prior period, the Washington-based trade group reported Wednesday.
The refinancing measure decreased 1.4 percent last week, while the purchase gauge dropped 1.1 percent even as borrowing costs fell.
The average rate on a 30-year fixed loan eased to 4.31 percent, the lowest since June 2013, from 4.33 percent.
The average rate on a 15-year mortgage was 3.42 percent after 3.43 percent the previous week.
The share of applicants seeking to refinance was little changed at 52.2 percent after 52 percent the previous week, the MBA’s report showed.
Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.
SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.
All contents herein copyright San Diego Source ® 1994-2016