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Mortgage applications fell for the fourth consecutive week as mortgage edged up slightly, the reported Wednesday.

Mortgage application activity, which includes both refinancings and home purchase loans, dropped 0.3 percent in the week ending Nov. 22, according to the ’s index. That marks a 7 percent in mortgage applications in the past four months.

Refinancing applications, which make up the biggest bulk of applications, ticked up slightly at 0.1 percent. Purchase applications, viewed as a leading indicator of future home sales, dropped 0.2 percent.

The MBA reports that the 30- fixed-rate mortgage rose 2 basis points and averaged 4.48 percent in the .

The MBA’s index reflects more than 75 percent of U.S. mortgage applications.

Source: http://realtormag.realtor.org/daily-/2013/11/27/-demand-slips-in-latest-week

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