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Mortgage Applications Climb from Previous Week as Rates Dip

APR 16, 2014 1:22pm ET
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Mortgage applications, including requests for refinancings and for home purchase loans, rose from the previous week for the week ended April 11.

Overall applications rose 4.3% from the previous week, according to the latest Mortgage Bankers Association Weekly Mortgage Applications Survey.

The component refinance index rose 7%, while the purchase index ticked up 1% from a week earlier. All three statistics are seasonally adjusted.

Refis made up 52% of total mortgage applications, up from 51% the week before. Adjustable-rate mortgages accounted for 8% of total applications.

The average interest rate for 30-year fixed-rate mortgages with balances of $417,000 or less dipped nine basis points, to 4.47%. The average interest rate for 30-year fixed-rate mortgages with loan balances above $417,000 fell 10 basis points, to 4.39%.

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