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US mortgage applications fell last week: MBA

Fuat Kose | E+ | Getty Images

Applications for U.S. home mortgages fell last week as both purchase and refinancing applications slipped, 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 1.2 percent in the week ended March 14.

(Read more: 'Mansion tax' collection hits record $259 million)

The MBA's seasonally adjusted index of refinancing applications fell 1.3 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, dipped 0.9 percent.

(Read more: Banks meet robo-signing obligations)

Fixed 30-year mortgage rates averaged 4.50 percent in the week, down 2 basis points from 4.52 percent the week before.

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

By Reuters

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