U.S. mortgage applications fell for the fourth straight week and touched the lowest level since January 2016, the Mortgage Bankers Association said.
The market composite index was down 3% in the week that ended Aug. 3 from the previous week, both on seasonally adjusted and an unadjusted basis.
The refinance index slipped 5% to its lowest level since December 2000. The purchase index decreased 2% both on seasonally adjusted and unadjusted basis.
The refinance share of mortgage activity decreased to 36.6% of total applications from 37.1% the previous week.