MBA: U.S. Mortgage Demand Declines Last Week

MBA: U.S. Mortgage Demand Declines Last Week




Applications for U.S. home mortgages were down slightly last week as demand for new purchase loans dried up, industry data revealed Wednesday.
The Mortgage Bankers Association's seasonally adjusted index of mortgage application activity dipped 1.0 percent in the week ended February 10.
The gauge of loan requests for home purchases tumbled 8.4 percent. Refinancing, which makes up the majority of mortgage applications, was up 0.8 percent, supported by attractive interest rates.
The refinance share of total mortgage activity also rose to 81.1 percent of applications from 80.5 percent the week before.
Fixed 30-year mortgage rates were up to 4.08 percent, from 4.05 percent.


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