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MNI DATA IMPACT:US MBA Mkt Composite -1.9%,Refi -2% July 19 Wk

     WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a
further decrease in mortgage activity in the July 19 week, with activity down
1.9% even as mortgage rates decreased.
     Here are some of the key features of the report:
     - The Refinance Index fell by 2%, as did the Purchases Index. 
     - The 30-year average rate for a 30-year fixed mortgage fell back to 4.08%
in the current week from 4.12% in the previous week. 
     - MBA suggested that the decline in activity at the same time that rates
declined suggests that buyers are becoming less sensitive to interest rate
declines.
     - The unadjusted purchasing index was up 6% from a year earlier. 
--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com
[TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]

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