UNITED STATES MBA MORTGAGE APPLICATION DROPPED BY 2.2 PER CENT LAST WEEK

AS AT 8 JULY, THE MORTGAGE APPLICATION INDEX OF THE UNITED STATES MORTGAGE BANKERS ASSOCIATION (MBA) HAD DECLINED BY 2.2 PER CENT DURING THE WEEK OF 3 JULY, AS COMPARED WITH THE PREVIOUS WEEK; THE MORTGAGE APPLICATION INDEX HAD DECLINED BY 0.6 PER CENT, WITH AN INCREASE OF 0.5 PER CENT DURING THE PREVIOUS WEEK; THE REFINANCING MORTGAGE APPLICATION HAD FALLEN BY 4.1 PER CENT AND BY 0.7 PER CENT DURING THE PREVIOUS WEEK; THE 30-YEAR FIXED INTEREST RATE AVERAGE HAD BEEN 6.58 PER CENT, COMPARED WITH 6.57 PER CENT IN THE PREVIOUS WEEK; AND THE REFINANCING LOAN HAD BEEN 40.6 PER CENT, COMPARED WITH 41.4 PER CENT IN THE PREVIOUS WEEK。