Applications for mortgage loan refinancing decreased 7.17 percent over the week ending June 14, according to the Mortgage Bankers Association's refinance index, when tracked as a four-week moving average.
The seasonally adjusted purchase mortgage index increased by 0.61 percent during the same period.
Additional detail:
- The market volume index for all mortgage loan applications contracted 5.04 percent from one week earlier when tracked as a four-week moving average.
- Despite the decline in applications for mortgage loan refinancing, the share of all loan applications that were for refinance increased from 68.5 percent one week earlier to 68.7 percent in the week ending June 14.