Mortgage applications fell last week despite interest rates remaining rather attractive.
Applications fell 3.2 percent last week from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.
“The 30-year fixed rate has increased almost 20 basis points since a recent low, and the refinance index has decreased in four of the last five weeks,” said Michael Fratantoni, the association’s chief economist.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) fell four basis points to 4.14%.
The material has been provided by InstaForex Company – www.instaforex.com