Purchase loan applications slip

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Applications for purchase loans slipped a seasonally adjusted 1.4 percent for the week ending April 26 compared to a week before, the Mortgage Bankers Association (MBA) reported. But they were still 13 percent higher compared to a year before.

Overall mortgage applications were up a seasonally adjusted 1.8 percent, however, because of a 3 percent increase in refinance applications, according to the MBA. Source: MBA