U.S. mortgage applications decreased 1.7% last week from the preceding week, the Mortgage Bankers Association of America said.

In the comparable week last year, loan applications were up 56.2%, the MBA said.

The association's weekly refinancing index fell to 1292.2 last week, down 1% from the previous week, while the purchase index declined 2.9%, to 255.0.

Refinancings made up 44.6% of total applications last week, up 0.3% from the week before, the MBA said.

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