For the third week in a row, mortgage applications decreased.

Mortgage applications fell 3.1% in the week ending June 4, and refis took the biggest dip, according to the latest report from the Mortgage Bankers Association.

“Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 percent,” said Joel Kan, the MBA’s vice president of economic and industry forecasting. “This likely impacted refinance applications, which fell 5% for both conventional and government loans But purchase applications were up slightly last week, and the large details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com