"Mortgage application volume fell 15.3 percent during the week ended May 30, according to the trade group Mortgage Bankers Association's weekly application survey.
The MBA's application index fell to 502.3 during the week, from 593.3 the previous week. The results were adjusted to account for the Memorial Day holiday.
Refinance volume declined 25.7 percent, pushing total volume lower. Refinance applications accounted for 40.6% of total applications, down from 46.1% a week earlier."
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Mortgage application volume slips as rates rise
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