The
Mortgage Bankers Association (MBA) reported on Wednesday the mortgage
application volume in the U.S. fell 1.6 percent in the week ended December 17,
following a 4.0 percent plunge a week earlier. This marked the second
consecutive weekly decline in total mortgage application volume.
According
to the MBA’s data, last week’s decrease was due to a 3.3 percent drop in applications
to purchase a home that was partially offset by a 2.2 percent increase in
refinance applications.
Meanwhile, the average fixed 30-year mortgage
rate fell
from 3.30 percent to 3.27 percent, its lowest level in four weeks.