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Wednesday, April 10, 2019 - 07:00

US DATA IMPACT:MBA Mkt Composite -5.6%,Refis -11% April 5 Wk


WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a pull back in mortgage activity in the April 5 week after a sharp gain in the previous week, with activity down 5.6% as mortgage rates ticked up slightly.

Here are some of the key features of the report:

- The Refinance Index fell by 11% after surging to a three-year high in the previous week, while the Purchase Index rose by 1%.

- The 30-year average rate for a 30-year fixed mortgage rose to 4.40% in the current week from 4.36% in the previous week. There were gains for jumbo, FHA, and 15-year mortgages as well.

- The unadjusted purchasing index was up 13% from a year earlier, so there has been clear improvement over the last year.

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

[TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]

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