Mortgage applications declined 7.1% in the week ended March 15, as refinances fell 8% and purchases slid 4%, according to data from the Mortgage Bankers Association's weekly mortgage applications survey.

Refinance dipped to 75% of market share from 76% the week before, the tenth consecutive decline, while adjustable-rate mortgages held at 5 percent of volume. HARPs totaled 31% of refinances, up from 30% the week before.

The average 30-year fixed-rate mortgage with conforming loan balances ($417,500 or less) climbed to 3.82% from 3.81%, while the average 15-year fixed-rate mortgage rose to 3.02% from 3.01%.

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