Mortgage Application Activity Slips, Refis Most

Applications for residential loans slowed during the most-recent week, with applications for mortgage refinances receding more than purchases.

A seasonally adjusted 1 percent decline from the previous week was recorded for the Market Composite Index for the week ended Oct. 28.

Without any seasonal adjustments, the index — a measure of mortgage loan application volume — retreated by 2 percent versus a week earlier.

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From:: Financing