MBA: Mortgage Applications Fall as Refinancing Demand Slows

Wednesday, 05 Sep 2012 07:55 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Applications for U.S. home mortgages fell last week as demand for refinancing slowed further and new home loans slipped, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 2. 5 percent in the week ended August 31.

The MBA's seasonally adjusted index of refinancing applications fell 3 .0 percent to its lowest level since May 2012, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 0.8 percent.

The refinance share of total mortgage activity remained unchanged from 7 9 percent the week before.

Fixed 30-year mortgage rates averaged 3.78 percent in the week, down 2 basis points from 3 .80 percent in the prior week.

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

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved