Mortgage News

U.S. mortgage applications slip in Jan 30 week-MBA

Reuters, 02.04.04, 7:00 AM ET

NEW YORK, Feb 4 (Reuters) - Applications for home loans fell amid a slight rise in mortgage rates last week, an industry group said on Wednesday.

The Mortgage Bankers Association said its market index fell 1.5 percent to 855.7 in the Jan. 30 week as 30-year rates rose five basis points to 5.63 percent.

The industry trade group's measure of demand for loans to buy homes, the purchase index, fell 1.7 percent last week to 444.0, while its gauge of demand for loan refinancings, the refinancing index, slipped 1.4 percent to 3,250.6.

Copyright 2004, Reuters News Service

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