"Mortgage application volume fell 1.9% during the week ending March 7, according to the trade group Mortgage Bankers Association's weekly application survey released Wednesday.
The MBA's application index fell to 671.7, from 684.9 the previous week.
Refinance volume dropped 4.7% while purchase volume increased 1.6%. Refinance applications accounted for 50.6% of total applications. Refinance volume has steadily declined since January, when it accounted for 73% of total applications."
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Mortgage applications decline as interest rates move higher - Mar. 12, 2008
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