WASHINGTON - The Mortgage Bankers Association reported that loan applications for the week ended June 16 fell 1% on a seasonally adjusted basis from the previous week.

On a seasonally unadjusted basis, applications fell 1.8% and were down 10.7% from the year earlier. The association's seasonally adjusted purchase index dropped to 305.7 from 309.5 the previous week, and its seasonally adjusted refinancing index dipped slightly, to 329.3 from 329.4 the previous week.

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