Home loan applications decreased slightly in the week ending November 22, according to the Mortgage Bankers Association of America.The trade group's index of all mortgage loan applications fell 5.8% to 1131 during the week. However, the lending index was still up 79.8% from the same week a year earlier. The MBA's home purchase index actually increased during the week, while the refinancing index fell to 5672. It was the eighteenth consecutive week that the refinance index was above 4000, and refinancing still accounted for nearly 77% of all loan applications. The MBA's website is at www.mbaa.org.
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