The number of mortgage applications filed last week was essentially unchanged from the week before – at least on a seasonally adjusted basis. 

This week’s index stood at 1245.7, compared to 1245.4 the previous week, adjusted for the Christmas holiday. On an unadjusted basis, the index decreased 40 percent compared with the previous week and was up 155 percent compared with the same week a year ago.

The refinance shore of mortgage activity declined to 82.3 percent of total applications, down from 82.9 the previous week. 

Mortgage rates declined slightly:

• 30-year fixed-rate mortgages decreased to 5.03 percent from 5.04 percent
• 15-year fixed-rate mortgages decreased to 4.79 percent from 4.91 percent
• One-year ARMs decreased to 6.15 percent from 6.36 percent