GO
Loading...

US mortgage applications fall in latest week: MBA

Moodboard | Cultura | Getty Images

Applications for U.S. home mortgages fell in the latest week, with both purchase and refinancing applications down, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 4.1 percent to 380.9 in the week ended Feb. 14.

The interest rate on fixed 30-year mortgages averaged 4.50 percent last week, up 5 basis points from the previous week.

(Read more: New mortgage practices infuriate homeowners...again)

The MBA's seasonally adjusted index of refinancing applications fell 2.7 percent. The gauge of loan requests for home purchases, a leading indicator of home sales, fell 6.3 percent to hit its lowest level since September 2011.

The data comes a day after the National Association of Home Builders reported that U.S. homebuilder confidence suffered its largest one-month drop ever in February.

(Read more: Top 10 mortgage tips for 2014)

Wednesday's survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.

By Reuters

Contact Mortgages

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

Latest Special Reports

  • Financial advisors stress that now is the time for investors to get serious about year-end financial planning checkup.

  • File photo: Participants at a hacking conference in Germany

    A series of high profile cyber attacks has created huge economic opportunity as businesses look to fend off future attacks.

  • Is an active twist on passive investing the right portfolio move? An inside look at the rise of ETF strategists.