NEW YORK - Mortgage loan application volume slipped 0.9% on a seasonally adjusted basis in the week ended December 3, the Mortgage Bankers Association’s Weekly Mortgage Applications Survey indicated.
The refinance index fell 1.4% from the previous week, its fourth weekly decline, and is at lowest level since June. The seasonally adjusted purchase index rose 1.8%, its third consecutive increase, and is at its highest level since early May.
The seasonally adjusted market index four-week moving average dropped 8.0% in the week, while the four-week purchase index grew 2.8%, and the four-week refinance index plunged 10.9%.
Refinancings rose to 75.2% of total applications from 74.9%. Adjustable-rate mortgages (ARM) accounted for 5.6% of applications, down from 5.7% the previous week.
The average 30-year fixed-rate mortgage increased to 4.66% from 4.56%, while 15-year fixed-rate mortgages increased to 3.98% from 3.91%.
