U.S. mortgage applications fell for the first time since April

The number of mortgage loan applications reported in the U.S. last week fell 11% from the previous week on a seasonally adjusted basis, the Mortgage Bankers Association (MBA) reported May 18. The index fell for the first time since the third week of April.
The refinance index was down 9.5%. The average rate on a 30-year mortgage fell to 5.49% from 5.53%.


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