Margin loan balances have fallen for the third consecutive quarter, as investors lose their enthusiasm for gearing their investments.According to the latest Reserve Bank margin lending data, loan balances fell from A$12.1 billion in the December quarter last year to $11.8 billion in the March quarter - a 2.5 per cent fall.The market hit a recent peak of $12.4 billion in the June quarter last year but has been in decline since then.The number of client accounts has never picked up since the bear market in Australian equities in late 2007 and 2008 and continued to decline in the March quarter. Client account numbers fell from 142,000 in the December quarter to 141,000 in the latest quarter.Margin calls rose from an average of 0.97 per 1000 clients per day in the December quarter to 1.11 per 1000 clients per day in the latest period.