photo from above of homes in a neighborhood Source: Shutterstock.

Mortgage applications to banks and brokers last week were 6% lower in value and numbers than the previous week, and down 29% in value from a year earlier as refinances plummeted and purchases grew slowly, the Mortgage Bankers Association reported Wednesday.

The MBA’s Weekly Mortgage Applications Survey for the week ending March 25 marked the third week in a row that its composite index had fallen from the previous week.

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Jim DuPlessis

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