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Mortgage applications continue to fall, drop 4.1%

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Mortgage applications continued to fall compared to a week prior and dropped 4.1% for the week ended Feb. 15, the Mortgage Bankers Association report found.

Overall, the refinance share of mortgage activity fell slightly to 61% of mortgage applications.

The refinance index declined 3% from the previous week, as the purchase index dipped 6% from one week earlier.

Meanwhile, the 30-year, fixed-rate mortgage with a conforming loan balance increased to 4.50% from 4.45%, while the 30-year, FRM with a jumbo loan balance jumped to 4.45% from 4.40%.  

The 30-year, FRM backed by the FHA hit 4.16%, up from 4.13% a week prior.

Meanwhile, the 15-year, FRM escalated from 3.49% to 3.55%, and the 5/1 ARM increased to 3.20% from 3.11%.

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