Mortgage Applications Unchanged Last Week
NEW YORK (Reuters) - Applications for U.S. home mortgages were unchanged for the week ended Dec. 17 from the prior week as an increase in refinancing offset a decrease in purchases, an industry trade group said. The Mortgage Bankers Association said its seasonally adjusted index of mortgage activity was flat at 689.3 in the week ended Dec. 17, following a 1.0 percent drop the previous week. Fixed 30-year mortgage rates averaged 5.69 percent last week, excluding fees, up from 5.65 percent one week earlier. The MBA's seasonally adjusted index of refinancing applications rose 5.7 percent to 1958.2, following a 2.0 percent decline the prior week. The association's purchase index, a gauge of loan requests for home purchases, declined 3.6 percent to 471.1, on the heels of a 0.4 percent decline the previous week.
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