Home-loan application volumes slumped last week, adding to indications that the battered housing market might keep limping along this spring.
The Mortgage Bankers Assn. said the seasonally adjusted volume of applications for mortgages fell 6.7% last week from the week before.
Home-purchase applications declined 4.7%, and refinance activity was down 7.7% to its lowest level since Feb. 11, according to Wednesday's report.
Refinance loans, currently about 60% of the market, have fallen in number because interest rates have jumped after many homeowners took advantage of 30-year rates averaging well below 5%.