WASHINGTON -- Mortgage applications in the United States fell for the fourth time in the past five weeks, as the number of people seeking to buy a home slumped.
The Mortgage Bankers Association’s (MBA) index dropped 3.6 percent in the period ended July 11 after rising 1.9 percent the prior week, the Washington-based trade group reported Wednesday.
The purchase applications gauge declined 7.6 percent, the most since February 2013, after gaining 3.7 percent the week before.
The measure has increased just three times since mid-April.
The group’s refinancing index eased 0.1 percent. The share of applicants seeking to refinance rose to 53.6 percent from 51.6 percent the prior week.
The average rate on a 30-year fixed loan was little changed at 4.33 percent compared with 4.32 percent, while the average 15-year mortgage rate was 3.41 percent compared with 3.4 percent.
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