Mortgage Purchase And Refinancing Applications Fall

After unusually sharp gains in the prior week, both the purchase and refinance indexes fell 4.0 percent in the June 14 week. Year-on-year, the purchase index remains in the plus column at a constructive 4.0 percent. Rates, which fell a very sharp 11 basis points in the prior week, edged 2 basis points higher in the week to 4.14 percent for conventional 30-year fixed mortgages.