the U.S Mortgage Banker Assocaition posted the latest index of Mortgage Applications for the week ended December 9, wheret the seasonally adjusted index of mortgage application activity jumped 4.1 percent, short from the 12.8 gained last week.

Refinancing demand rose 9.3 percent last week after jumping 13.0 percent in the week ended December 2, while demand for new home purchases dropped 8.2 percent, unlike the prior 8.3 gained to weeks ago.