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Refi Applications Ebb, But The Boom Goes On
Wednesday, February 19, 2020
Mortgage loan
applications submitted during the week ended February 14 declined for the first
time since mid-January. The Mortgage Bankers Association said its Market
Composite Index, a measure of mortgage loan application volume, decreased 6.4
percent on a seasonally adjusted basis compared to the week ended February 7. On
an unadjusted basis, the Index lost 5 percent. The Refinance
Index also fell for the first time in for weeks, decreasing 8 percent from the
previous week. However, it was still 165 percent higher than the same week one
year ago. Refinancing applications accounted for 63.2 percent of total
applications, down from 65.5 percent a week earlier.
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