Mortgage applications fell in latest week

  @ibtimes on February 17 2010 7:16 AM

Applications for U.S. home mortgages fell slightly last week even as interest rates held near record low levels below 5 percent, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity decreased 2.1 percent to 600.5 in the week ended February 12.

The MBA's seasonally adjusted index of refinancing applications fell 1.2 percent to 2,860.1 last week. The gauge of loan requests for home purchases sank 4 percent to 212.3.

Fixed 30-year mortgage rates averaged 4.94 percent and were unchanged from the prior week.

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