Mortgage loan application volume rose 3.2% on a seasonally adjusted basis last week, as measured by the market composite index of the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.

Refinancings accounted for 82.3% of applications the week ending Oct. 22 — down from the previous 82.4%. Average interest on a 30-year fixed-rate mortgage fell to 4.25% from 4.34%, while 15-year fixed-rate mortgages fell to 3.67% from 3.74%.

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