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Mortgage activity slides slightly in week

April 6, 2011 at 11:24 AM

WASHINGTON, April 6 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity decreased slightly in the week ending April 1, as long-term rates were mixed.

Interest rates for 30-year, fixed-rate mortgages rose from 4.92 percent to 4.93 percent with points falling from 0.83 to 0.7. Rates for 15-year fixed-rate contracts fell from 4.16 percent to 4.14 percent with points rising from 0.99 to 1.09, the MBA said.

The MBA's Market Composite Index, indicating the volume of new mortgage activity, fell 2 percent in the week. The Refinancing Index fell 6.2 percent in the week, the trade group said.

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