Mortgage Bankers Association (MBA)

The 3.56% rate was the lowest for any first quarter since MBA’s survey began in 1979.

Stakeholders hopeful that agency will proactively seek greater input before proposing future changes.

MBA says both its purchase and refinance indices rose as 30-year fixed rate fell to 6.48%.

Decline reflects the tightening in broader credit conditions, MBA said.

Application volume decreased 1.2% after rising in six of the previous seven weeks.

MBA’s Purchase Applications Payment Index hits record high.