U.S. Mortgage Applications Fell 5.6% Last Week on Purchases
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Mortgage applications in the U.S. declined last week, led by the biggest drop in purchase requests in almost a year.
The Mortgage Bankers Association’s index of loan applications decreased 5.6 percent in the period ended April 22. The group’s gauge of purchases plunged 14 percent, the biggest decline since May, and the refinancing measure fell 0.6 percent.