Mortgage activity fell 3.8 percent in the week. The trade group's Refinancing Index also fell 2.1 percent from the previous week.
Interest rates for 30-year, fixed-rate conforming mortgages fell from 4.05 percent to 4.04 percent with average points dropping from 0.45 to 0.4.
Rates for 15-year, fixed-rate contracts fell from 3.33 percent to 3.32 percent. Points for 15-year loans were unchanged at 0.41.
The average interest rates for both the 30-year and 15-year fixed-rate loans are the lowest on record, the MBA said.
Notable deaths of 2014 [PHOTOS]