FEB 12, 2014 4:01pm ET

Mortgage Applications Fell 2% in Latest Week: MBA

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Mortgage applications fell 2% for the week ended Feb. 7, according to data from the Mortgage Bankers Association.

Refinancing activity dipped 0.2% from the previous week, according to the MBA’s Weekly Mortgage Applications Survey. Refinances made up 62% of all mortgage applications, unchanged from the previous week.

The average interest rate for 30-year fixed-rate mortgages fell to 4.45%, down 2 basis points from the previous week. The interest rate for 15-year fixed-rate mortgages decreased by 4 basis points, to 3.49%.

The MBA survey encompasses over 75% of all U.S. retail residential mortgage applications.

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