The Mortgage Bankers Association (MBA) reported on Wednesday the mortgage application volume in the U.S. fell 4.3 percent in the week ended April 26, following a 7.3 percent tumble in the previous week.

According to the report, the refinance applications dropped 5.0 percent and applications to purchase a home declined 3.7 percent.

Meanwhile, the average fixed 30-year mortgage rate decreased to 4.42 percent from 4.46 percent.

“Mortgage rates were lower last week, as concerns over global growth, particularly in Germany, outweighed more positive domestic news on first-quarter GDP growth and business investment,” noted Joel Kan, MBA’s associate vice president of economic and industry forecasting.