The Mortgage Bankers Association said its
seasonally adjusted index of mortgage application activity,
which includes both refinancing and home purchase demand, rose
5.3 percent in the week ended May 2. That's a rebound from the
previous week, when applications for U.S. home mortgages fell to
their lowest level since December 2000.
The MBA's seasonally adjusted index of refinancing applications
rose 2.4 percent, while the gauge of loan requests for home
purchases, a leading indicator of home sales, jumped 8.9
Fixed 30-year mortgage rates averaged 4.43 percent in the week,
the lowest since November 2013. It was down 6 basis points from
4.49 percent the week before.
The survey covers over 75 percent of U.S. retail residential
mortgage applications, according to MBA.
On Tuesday, MBA said first-quarter commercial and multifamily
mortgage loan originations were down 1 percent from the same
period a year ago and down 45 percent from the fourth-quarter of
(Reporting by Caroline Valetkevitch; Editing by Diane Craft)
[© 2014 Thomson Reuters. All rights
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.