Refi demand cools

Demand for purchase loans holds steady

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Demand for purchase mortgages held steady during the week ending July 24, but requests for refinance loans were off 10.9 percent from the week before as mortgage rates inched up, the Mortgage Bankers Association said in releasing the results of its Weekly Applications Survey.

An index measuring application volume for both purchase and refinance loans was down a seasonally adjusted 6.3 percent from the week before.