Applications for mortgages in U.S. fell in the last week due to lower demand for refinancing, said Wednesday a group of industry.
The Mortgage Bankers Association (MBA, for its acronym in English) said its seasonally adjusted index of mortgage application activity, which includes both refinancing and demand for home purchases fell 1.2% in the week ended 28 March.
The seasonally adjusted index of refinancing applications fell 2.9% MBA, while the measurement of loan requests for home purchases, an important indicator of home sales, rose 0.9 percent.
Mortgage rates 30-year fixed averaged 4.56% this week, unchanged from the previous week.
The survey covers over 75% of retail residential mortgage applications in the U.S., according to the MBA.