http://mobile.reuters.com/article/businessNews/idUSTRE8030O920120125
Mortgage applications retreated last week: MBA
Wed, Jan 25 2012
NEW YORK (Reuters) - Applications for home mortgages retreated last
week, giving back some of the previous week's surge as interest rates
rose, 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 5 percent in the week ended Jan 20.
The index had soared more than 20 percent the previous week.
The MBA's seasonally adjusted index of refinancing applications
slipped 5.2 percent, while the gauge of loan requests for home
purchases was off 5.4 percent. The refinance share of total mortgage
activity decreased to 81.3 percent of applications from 82.2 percent.
Fixed 30-year mortgage rates averaged 4.11 percent, up 5 basis points
from 4.06 percent.
The survey covers over 75 percent of U.S. retail residential mortgage
applications, according to MBA.
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