Mortgage applications drop slightly while loan rates drop again
The refinance share of mortgage activity increased to 67.3 percent of total applications from 65.7 percent the previous week, the highest refinance share since Jan. 28.
The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.54 percent from 4.58 percent, the lowest 30-year contract rate since Nov. 19.
Fifteen-year fixed-rate mortgages decreased to 3.67 percent from 3.78 percent, the lowest level since Oct. 22.
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