According to data from the Mortgage Bankers Association (MBA) for the week ending March 29, mortgage applications decreased by 0.6 percent last week compared to the previous week.
During this period, applications for home purchases fell by 0.1 percent, and refinancing applications dropped by 2 percent.
The average interest rate for a 30-year fixed-rate mortgage in the country declined from 6.93 percent to 6.91 percent last week.
In the same period, the average interest rate for a 15-year fixed-rate mortgage also fell from 6.46 percent to 6.35 percent.
MBA Vice President Joel Kan stated that high mortgage interest rates continue to put pressure on home buying.
News Source: 12punto
