NEW YORK - Mortgage application volume rose 0.1%, as purchases grew while refinances fell, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ended April 27.
The refinance index fell 0.7%, and the seasonally adjusted purchase index gained 2.9%.
The four-week moving average for the seasonally adjusted market index increased 0.09%. The four-week moving average for the seasonally adjusted purchase index slid 1.77%, while this average grew 0.75% for the rfinance idex.
The refinance share of mortgage activity decreased to 72.6% of applications from 73.4% the previous week.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 4.05% from 4.04%.
The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.31%, the lowest rate in the history of the survey, from 3.32%.