As interest rates on home loans have climbed to the highest level in more than four years, the share of applications for refinances has fallen to a decade-low. Government share was diminished again.
In the seven-day period that ended on April 20, the Market Composite Index dipped less than 1 percent from the preceding week on a seasonally adjusted basis.
Without factoring in seasonal data, however, the index — a measure of retail residential loan application volume — increased 1 percent from the week ended April 13.
Source: Mortgage Daily