Mortgage demand hits lowest level since August
The Mortgage Bankers Assn. said its index of U.S. mortgage application activity, which includes both refinancing and purchasing loans, for the week ended Dec. 22 fell 14.2% to 555.8, its lowest level since early August. The index stood at 647.6 in the previous week.
The association’s purchase index fell 10.6% to 390.2, its lowest since late October.