Mortgage interest rates rose to the highest level in a month, pouring cold water on applications.
Total volume fell 0.8 percent last week from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association. Volume is still 10 percent higher than a year ago, largely due to stronger demand for home purchases.
Applications to refinance a mortgage fell 1 percent for the week and are 4 percent higher than a year ago, on a seasonally adjusted basis. Applications to purchase a home fell 1 percent but were 20 percent higher than a year ago.