Mortgage Refinance Applications Recede

New applications for residential loans were down by more than a tenth on a week-over-week basis, with refinance activity suffering the biggest setback.

A seasonally adjusted 11 percent decline from one week previous was recorded for the Market Composite Index for the week that ended on July 22.

The weekly index, which is a measure of mortgage loan application volume, was also down 11 percent from the last report without seasonal adjustments.

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From:: Financing