The Mortgage Bankers Association said its
seasonally adjusted index of mortgage application activity,
which includes both refinancing and home purchase demand, fell
3.1 percent in the week ended May 30.
The MBA's seasonally adjusted index of refinancing applications
fell 2.9 percent, while the gauge of loan requests for home
purchases, a leading indicator of home sales, dropped 3.6
Fixed 30-year mortgage rates averaged 4.26 percent in the week,
down 5 basis points from 4.31 percent the week before.
The survey covers over 75 percent of U.S. retail residential
mortgage applications, according to MBA.
(Reporting by Caroline Valetkevitch; Editing by Leslie Adler)
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