Mortgage applications slumped 5.2% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Nov. 14.

On an unadjusted basis, the index decreased 7% compared with the previous week.

The refinance index decreased 7% from the previous week but was 125% higher than the same week one year ago. The refinance share of mortgage activity decreased slightly to 55.4% of total applications, down from 55.6% the previous week.

“Mortgage rates increased for the third consecutive week, with the 30-year fixed rate inching higher to its highest level details ⇒

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