Summary Box: Mortgage applications fell 4.4 percent last week, despite low rates

Summary Box: Mortgage applications down percent

MORTGAGE APPLICATIONS DOWN: Applications for home loans fell 4.4 percent last week despite the lowest mortgage rates in decades, according to the Mortgage Bankers Association.

REFINANCES DOWN, PURCHASES UP: Applications to refinance home loans dropped 5.9 percent. Those taken out to purchase homes rose 2 percent. The numbers are seasonally adjusted.

RATES STILL LOW: The average rate for a 30-year fixed loan rose to 4.69 percent last week from 4.59 percent a week earlier, according to the trade group’s report.