Mortgage applications fell more than 4 percent from the last survey, according to the Mortgage Bankers’ Association’s Weekly Mortgage Applications Survey. The report covers the last week in April.
- The Mortgage Loan application Index fell 4.2% percent from the previous week.
- The Refinance Index fell by 5% over the same period.
- The Purchase Index fell 4%.
Mortgage rates were lower while the 30-year fixed rate declining as global concerns outweighed more positive domestic news of job growth and business investment.
Applications to refinance and purchase a home both fell, but purchase activity remained slightly above year ago levels.
Not surprisingly, interest rates fell across all the survey’s mortgage loan types.