Mortgage Applications Drop 1.4%
Applications for loans to purchase a home dropped 3.3% from a week earlier on a seasonally adjusted basis, The Mortgage Bankers Association said. Applications for loans to refinance a home dropped 0.9%.
The average contract interest rate for 30-year fixed-rate mortgages fell to 4.44% from 4.47%. The average rate for 15-year fixed mortgages fell to 3.88% from 3.96%.