The Mortgage Bankers Association has released a report saying the number of new mortgage loan and refinancing applications filed in the United States fell during the week ending December 21, 2007.

According to the latest MBA Weekly Mortgage Application Survey—which measures the mortgage loan application volume nationwide—the Market Composite Index fell 7.6-percent to a loan application volume of 603.8 on an adjusted basis last week. On an unadjusted basis, the index fell 8.2-percent when compared to the week prior.
The MBA’s latest report also concluded that, “The Refinance Index decreased 8.5-percent to 1,915.3 from 2,093.6 the previous week and the seasonally-adjusted Purchase Index decreased 6.6-percent to 394.5 from 422.2 one week earlier. On an unadjusted basis, the Purchase Index decreased 7.8-percent to 292.4 from 317.1 the previous week. The seasonally adjusted Conventional Index decreased 7.9-percent to 859.1 from 932.8 the previous week, and the seasonally-adjusted Government Index decreased 5.5-percent to 178.3 from 188.7 the previous week.”
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