WASHINGTON -- Mortgage applications in the United States fell for the fourth time in five weeks, as a gauge of refinancing dropped to the lowest level of the year.
The Mortgage Bankers Association’s (MBA) applications index decreased 1.6 percent in the period ended April 4 after a 1.2 percent decline the week before, the Washington-based group said Thursday.
The refinancing gauge fell 4.9 percent to the lowest level since the period ended Dec. 27, while the measure of purchase applications rose 2.7 percent.
The average rate on a 30-year fixed loan held at 4.56 percent and the average on a 15-year mortgage was unchanged at 3.62 percent.
The share of applicants seeking to refinance declined to 50.7 percent, the lowest since July 2009, from 52.8 percent the prior week, the MBA’s report showed.
The measure has declined for nine straight weeks.
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