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Mortgage Applications Fell Last Week as Rates Rose

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Applications for U.S. home mortgages fell for a second straight week as both refinancing and loan requests for new mortgages eased last week, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, was 1.7 percent lower in the week ended Feb. 15.

The MBA's seasonally adjusted index of refinancing applications fell 1.6 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, dropped 1.7 percent.


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