Mortgage loan application volume decreased by 0.3 percent last week, according to the Mortgage Bankers Association.
Application volume for refinance loans increased by 0.9 percent and accounted for 75.2 percent of all loan activity, up from 74.4 percent the prior week.
The average contract interest rate for a 30-year fixed mortgage was 4.92 percent, up from 4.88 percent.
