Mortgage applications in Washington DC

Due to a decline in home ownership, mortgage applications in the Washington DC fell slightly last week.

As informsĀ Reuters, the Mortgage Bankers Association (MBA) said its seasonally adjusted index of mortgage application activity fell 0.2 percent the week ended June 27.

This index includes both the demand for refinancing to home ownership.

The seasonally adjusted index of refinancing applications MBA went up 0.1 percent. Meanwhile, measuring loan requests to buy a house-a strong indicator of the status of home sales fell-0.7%.

Mortgage rates on 30-year fixed, it was reported that averaged 4.28 percent in the week, reaching down five basis points compared to the previous week (4.33).

According to the MBA, the survey covers over 75% of retail residential applications the country.