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Mortgage applications fall in weekly survey


Mortgage applications fell off for the week as refinancing activity cooled with an uptick in rates, the Mortgage Bankers Association (MBA) reported.

For the week ending April 22, overall applications decreased by 4.1 percent on a 5 percent decline in refinance activity, the trade group said. Purchase applications also fell by 2 percent.

The refinance share of applications decreased by one percentage point to 54.4 percent, MBA said.

The average rate of a 30-year fixed conventional mortgage rose two basis points to 3.85 percent, the trade group said. 


 

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