The MBA Mortgage Application Index fell by 0.3% in the week ending February 6, following an 8.9% decline in the previous week. Mortgage applications have now decreased for three consecutive weeks. The purchase mortgage application index dropped by 2.4%, after falling 14.4% in the prior week. Refinancing applications increased by 1.2%, compared to a 4.7% decline the week before. The average 30-year fixed mortgage rate remained unchanged from the previous week at 6.21%.
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