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Mortgage apps fall

WASHINGTON -- Mortgage applications in the United States declined for the fourth time in the past five weeks, as purchases and refinancing eased.

The Mortgage Bankers Association’s (MBA) index dropped 1 percent in the period ended June 20 after falling 9.2 percent in the prior week, the Washington-based trade group reported Wednesday.

The measure for purchase applications decreased 1.2 percent last week after a 4.7 percent drop.

The refinancing gauge fell 0.9 percent following a 12.7 percent slump the previous week.

The average rate on a 30-year fixed loan decreased to 4.33 percent from 4.36 percent.

The average rate on a 15-year mortgage declined to 3.47 percent from 3.50 percent.

The share of applicants seeking to refinance rose to 52.1 percent from 51.7 percent the prior week, Tuesday’s report showed.

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