Demand for mortgages off as rates rise

Refinancings account for 2 in 3 applications

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Applications for mortgages fell 13.7 percent on a seasonally adjusted basis last week as interest rates on fixed- and adjustable-rate mortgages inched up, the Mortgage Bankers Association said in releasing the results of its Weekly Mortgage Applications Survey.