US mortgage applications fell last week

Applications for U.S. home mortgages tumbled last week as interest rates climbed and refinancing requests fell back to November levels, an industry group said on Wednesday.

The Mortgage Bankers Association said in a statement its seasonally adjusted index of mortgage application activity slumped 19.5 percent to 653.8 in the week ended Dec. 14.

The decline was led by the MBA's seasonally adjusted index of refinancing applications which plunged 27.3 percent to 2,093.6 in the week, the MBA said, putting the index at the lowest level in four weeks.

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- Posted: 2007-12-19 10:52:08

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