Applications for mortgages and refinancings fell in the week ending
June 26, compared to the previous week, according to data released
today by the Mortgage Bankers Association. Mortgage loan applications
stood at 444.8 on the association’s scale, an 18.9 percent decrease on
a seasonally-adjusted scale from the previous week and a 7.4 percent
decrease year-over-year. The association’s index of refinancings fell
30 percent from the previous week, to its lowest level since November.
The average interest rate for a 30-year fixed-rate mortgage fell to
5.34 percent from 5.44 percent. TRD [more]