Mortgage loan application volume fell by 4.5 percent last week even as interest rates for 30-year loans dipped to 4.82 percent, according to the Mortgage Bankers Association.
Refinance loans accounted for 71.7 percent of all loan application activity, down from 74.6 percent the previous week.
The average contract interest rate for a 30-year loan was 4.82 percent compared to 4.83 percent the prior week on 80 percent loan-to-value ratio loans.
