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Mortgage applications fall 3.9% despite drop in rates

A tiny pullback in interest rates did nothing to improve mortgage application volume. The total tally fell 3.9 percent for the week ending March 13th from the previous week, according to the Mortgage Bankers Associations (MBA). The numbers are seasonally adjusted.

mortgage loan Rates Rise for 2nd Straight Week

The latest Mortgage Bankers Association report on mortgage applications noted a week-over-week decrease in the seasonally adjusted composite index for the week ending February 13.

Mortgage apps plunge as rates hit highest level of year

Mortgage interest rates rose to their highest level since the beginning of this year, and mortgage volume reacted in the opposite direction. Loan applications fell 13.2 percent for the week ending February 13, according to the Mortgage Bankers Association. Total volume is still 14 percent above where it was a year ago, when interest rates were considerably higher.