Weekly applications to refinance single-family mortgages were out front of weakening activity. Applications for loans to finance a home purchase have strengthened from a year ago.
Loan originators completed nearly 3 percent fewer applications in the week ended Oct. 27 than they did the prior week based on the seasonally adjusted Market Composite Index.
The index, which quantifies the volume of retail residential loan applications, still declined by 3 percent from the week ended Oct. 20 when seasonal factors are not considered.
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From:: Financing