U.S. weekly mortgage applications declined by 3.1% in the first week of June.
Source: Mortgage Bankers Association
SPDR Homebuilders ETF is down 1.16%
Adjustment for the Memorial Day holiday was factored in the results.
The 30-year fixed-rate mortgage decreased by 3.15%.
The average loan amount on a mortgage application decreased to $407,000.
Refinance share of mortgage activity was down to 60.4% of total applications.