Us mortgage applications eased again last week: mba
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Getty Images Applications for U.S. home mortgages sagged for a third week in a row last week, even as mortgage rates eased slightly, an industry group survey showed on Wednesday. The
Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 3.8 percent in the week ended
Feb. 22. The MBA's seasonally adjusted index of refinancing applications slipped 3.3 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales,
dropped 5.2 percent. (_Read More_: Home Prices Soar on Short Supply, Investor Demand) The refinance share of total mortgage activity was unchanged at 77 percent of applications, holding at
the lowest level since July 2012. Fixed 30-year mortgage rates averaged 3.77 percent, down 1 basis point from 3.78 percent the week before. (_Read More_: They Bailed on Their Homes—Now They
Want Back In) The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.