Mortgage Applications Fall Again Last Week
Washington, DC, Nov. 20, 2013 -- Mortgage applications in the U.S. dropped for a third consecutive week, according to the Mortgage Bankers Association.
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MBA said its index fell 2.3% in the period ended Nov. 15 after a 1.8% loss the previous week.
The purchase index climbed 5.8% to the highest since September. The refinancing gauge declined 6.5% to the weakest since mid-September.
The average rate on a 30-year fixed loan increased to 4.46% from 4.44%.
The share of applicants looking to refinance decreased to 64.3%, the lowest since the period ended Oct. 4, from 66.3%.