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MORTGAGE LOAN APPS INCREASE 16.9 PERCENT
| The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, increased by 16.9 percent to 775.6 on a seasonally adjusted basis for the week ending Nov. 21 from 663.2 one week earlier, according to a report released today by the Mortgage Bankers Association (MBA). On an unadjusted basis, the Index increased by 28.1 percent for the week ending Nov. 21 compared with the previous week and was down 33.8 percent compared with the same week one year earlier. The refinance share of mortgage activity increased to 53.3 percent of total applications for the week ending Nov. 21 compared to 48.1 percent the previous week, according to the report. The adjustable-rate mortgage (ARM) share of activity decreased to 27.0 percent for the week ending Nov. 21 from 27.5 percent the previous week |