Mortgage activity down in week

WASHINGTON, Aug. 31 (UPI) -- The Mortgage Bankers Association says U.S. mortgage activity fell in the week ended last Friday as mortgage costs were little changed.

Interest rates for 30-year, fixed-rate mortgages fell from 4.39 percent to 4.32 percent with points rising from 0.88 to 1.03. Rates for 15-year, fixed-rate contracts fell from 3.56 percent to 3.49 percent with points holding steady at 1, the association said Wednesday.

The banking group said its weekly mortgage activity index fell 9.6 percent, while the refinancing index fell 12.2 percent.