Mortgage Application Volume Drops
Washington, DC, Dec. 17, 2014 -- Mortgage application volume fell last week and interest rates declined to their lowest level since May 2013, according to the Mortgage Bankers Association.
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MBA said its seasonally adjusted index of mortgage application activity fell 3.3% in the week ended Dec. 12.
The seasonally adjusted index of refinancing applications was unchanged, while loan requests for home purchases fell 6.9%.
Fixed 30-year mortgage rates averaged 4.06%, the lowest since May 2013.