The Mortgage Bankers Association’s index decreased 3.3% in the period ended April 18 from the prior week, the Washington-based trade group reported today. The 2.6% decline in purchases marked the measure’s first drop in six weeks and ended the longest string of gains since November 2012.
The refinance gauge fell 3.7%.
The average rate on a 30-year fixed loan rose to 4.49% from 4.47% the prior week. The average rate on a 15-year mortgage rose to 3.55% from 3.54%.
The share of applicants seeking to refinance declined to 51.3% from 51.8% the prior week, today’s report showed.