Mortgage Bankers' Association weekly applications survey
TLT•U.S. mortgage applications fell 5.3% in the latest week, with purchase applications down 7.3% and refinancing applications down 2.0%; the average 30-year mortgage rate was 7.41%, down 9 basis points.
1. Weekly applications decline
The Mortgage Bankers' Association's seasonally adjusted market index fell 5.3% from the prior week to 188.6. The purchase index dropped 7.3% to 129.2, while the refinancing index declined 2.0% to 503.1. The average contract rate for a 30-year mortgage was 7.41%, down 9 basis points.
