Mortgage applications fell 8.9% on a seasonally adjusted basis the week ended Sept. 10, the Mortgage Bankers Association reported Wednesday.
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The Weekly Mortgage Applications Survey results were adjusted for the Labor Day holiday. The four-week moving average for the index fell 0.8%. The purchase index four-week moving average rose 2.0% and the refinance index four-week average fell 1.4%. Refinancings accounted for 80.5% of applications. The average 30-year fixed-rate mortgage interest rate fell three basis points to 4.47%.
