The Mortgage Bankers Association said seasonally adjusted applications for home loans fell 6.7% last week compared with the previous week. On an unadjusted basis, the Market Composite Index, a measure of mortgage loan application volume, decreased 6.3% compared with the previous week. Home-purchase applications declined 4.7%, and refinance activity was down 7.7% to its lowest level since Feb. 11, according to Wednesday’s report.
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