Mortgage Loan Applications fall 3.2%

According to the Mortgage Bankers Association mortgage loan applications fell 3.2% last week. Consumers are buying more expensive homes with larger loan values.

Loan Applications for home refinancings decreased by 5 percent from last week. This is the lowest level since the beginning of September. Mortgage refinancing volume remains 4 percent higher than the same time last year. Refinancings account for approximately 60% of all applications.

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