Mortgage application activity dropped 12% in the week ending Oct. 19 as mortgage rates inched higher.

Refinancing activity fell 12.9% to 4752, the Mortgage Bankers Association said this morning., Additionally, since hitting a 3-1/2 year high at the end of September, activity is down 19%. As a percent of total application activity, refinancings slipped to 81% from 82% in the prior week.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.