Despite the busy home purchase and refinancing market, mortgage insurance volume dropped 3.4% in October from the month before.The Mortgage Insurance Companies of America reported that 186,361 borrowers used private mortgage insurance to buy or refinance a home in October. Insurance-in-force declined 1.09% to $724.7 billion industrywide, according to MICA. On a positive note for the industry, the number of applications for MI policies increased 4.4% in October. The association's website is www.micadc.org.
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