NEW YORK (Reuters) - The weekly volume of U.S. mortgage applications decreased to its lowest in February, even as some 30-year home borrowing costs fell to a two-month low, the Mortgage Bankers Association said on Wednesday.

The Washington-based group’s seasonally adjusted weekly index of mortgage activity fell by 4.9 percent to 379.2 in the week ended Dec. 15. This was the weakest reading since 371.5 in the Feb. 17 week.