facebook
twitter
search
search

Mortgage applications decline in week

Aug. 29, 2012 at 10:39 AM

WASHINGTON, Aug. 29 (UPI) -- U.S. mortgage applications fell in the week despite declines in interest rates for long-term contracts, the Mortgage Bankers Association said Wednesday.

The trade group said mortgage applications fell 4.3 percent week to week. The trade group's Refinancing Index fell 6 percent from the previous week to the lowest level since early May, the association said.

In the week, interest rates for 30-year, fixed-rate conforming mortgages fell from 3.865 percent to 3.8 percent with points unchanged at 0.42.

The average interest rate for 15-year fixed-rate mortgages also fell, dropping from 3.15 percent to 3.12 percent, with points unchanged at 0.44 in the week.

Related UPI Stories
Latest Headlines
Top Stories
Australia receives seventh C-17 in record time
Work to prepare Portsmouth Navy base for new carriers begins
Saudis to acquire hundreds of advanced Patriot missiles
U.S. military service buys Israeli radar for testing
Unidentified military orders SFC Energy's fuel cells