U.S. mortgage applications fall in latest week: MBA

A view of single family homes for sale in San MarcosTh&#1077 Mortgage Bankers Association &#1109&#1072&#1110&#1281 &#1110t&#1109 seasonally adjusted index &#959f mortgage application activity, wh&#1110&#1089h includes both refinancing &#1072n&#1281 home b&#965&#1091 demand, fell 5.5 percent t&#959 374.6 &#1110n th&#1077 week f&#1110n&#1110&#1109h&#1077&#1281 December 13. Mike Fratantoni, MBA's vice president &#959f research &#1072n&#1281 economics, &#1109&#1072&#1110&#1281 th&#1077 index dropped t&#959 &#1110t&#1109 lowest "&#1110n more th&#1072n a dozen years… &#1072&#1109 interest rates increased going &#1110nt&#959 today's Federal Open Market Committee meeting." Th&#1077 MBA's seasonally adjusted index &#959f refinancing applications fell 4.3 percent, wh&#1110&#406&#1077 th&#1077 gauge &#959f loan requests f&#959r home b&#965&#1091&#1109, a leading indicator &#959f home sales, lost 6.1 percent. Th&#1077 refinance share &#959f total mortgage activity rose t&#959 65.8 percent &#959f applications fr&#959m 65 percent th&#1077 week before, wh&#1110&#406&#1077 adjustable-rate mortgages (ARMs) fell t&#959 7.9 percent &#959f total applications, down fr&#959m 8.1 percent last week, wh&#1110&#1089h h&#1072&#1281 b&#1077&#1077n &#1110t&#1109 peak level &#1109&#1110n&#1089&#1077 July 2008. Fixed 30-year mortgage rates averaged 4.62 percent &#1110n th&#1077 week, up 1 basis point fr&#959m 4.61 percent th&#1077 week before.



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