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MBA: Mortgage applications down 3.4%

Mortgageapplications fell 3.4% in the week ended April 29 compared to the previous weekon a seasonally adjusted basis, the Mortgage Bankers Association reported.

Themarket composite index, which measures mortgage loan application volume, fell3% week over week on an unadjusted basis.

Theseasonally adjusted purchase index decreased 0.1% compared to the previous weekand increased 1% week over week on an unadjusted basis. The unadjusted purchaseindex was 13% above the year-ago level for the same week.

Therefinance index slipped 6% from the week-ago period.

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