Mortgage Applications Slide 14%

Mortgage applications filed last week fell a seasonally adjusted 14.2% from the week before, as rates on 30-year fixed-rate mortgages ticked up, according to the Mortgage Bankers Association's weekly survey, released Wednesday.

Applications were up 28.5% for the week ended May 22 compared with the same week in 2008. The MBA survey covers about one-half of all U.S. retail residential mortgage applications.

Refinance applications were down an unadjusted 18.9% last week versus the week before. Applications for mortgages to purchase a home were up a seasonally adjusted 1.0%, compared with the previous week.

The four-week moving average for all mortgages was down 4.7%.