WASHINGTON, Aug. 24 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity fell in the week ending Friday as interest rates rose.
Interest rates for 30-year, fixed-rate mortgages rose from 4.32 percent to 4.39 percent with points rising from 0.86 to 0.88. Rates for 15-year, fixed-rate contracts rose from 3.47 percent to 3.56 percent with points falling from 1.08 to 1, the association said.
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The banking group said its weekly mortgage activity index fell 2.4 percent, while the refinancing index fell 1.7 percent.