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MORTGAGE LOAN APPS POST SLIGHT INCREASE
| The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, increased by 0.5 percent to 652.8 on a seasonally adjusted basis for the week ending Oct. 17 compared to 649.6 one week earlier, according to the most recent Mortgage Bankers Association (MBA) report released today. On an unadjusted basis, the Index decreased by 9.7 percent for the week ending Oct. 17 compared to the previous week and was down 42.7 percent compared with the same week one year earlier. The refinance share of mortgage activity decreased to 50.5 percent of total applications for the week ending Oct. 17 compared to 53.9 percent the previous week. The adjustable-rate mortgage (ARM ) share of activity increased to 26.2 percent for the week ending Oct. 17 from 25.2 percent the previous week. |