Applications for both new and refinanced mortgage loans continueto drop, according to the MortgageBankers Association.

The association's weekly Mortgage Applications Survey for theweek ending Sept. 6, which included an adjustment for the Labor Dayholiday, found that overall applications for housing finance loansdecreased 13.5% on a seasonally adjusted basis from one weekearlier.

When not adjusted, application volume decreased 23% comparedwith the previous week, the MBA reported.

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