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Mortgage applications rise in weekly survey

Mortgage applications rose in the week following the Presidents Day holiday, the Mortgage Bankers Association (MBA) reported.

For the week ending Feb. 23, MBA’s adjusted composite index rose 2.7 percent. The refinance index dropped 1 percent, but the adjusted purchase index was up by 6 percent compared to the prior week. On an unadjusted basis, applications were down.

The refinance share of mortgage activity decreased 2.6 points to 41.8 percent of all applications. Key mortgage rates were either stable or ticked up marginally. 


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