Mortgage application activity was mixed in the week ending Oct. 26 with refinancings lower and purchases higher.

The Mortgage Bankers Association (MBA) reported the Refinance Index declined 6% to 4466, its lowest level since the end of August. In addition, this was the fourth straight week of declines since hitting a 3-1/2 year high of 5888 at the end of September. As a percent of total applications, refinancing share slipped to 80% from 81%, which is the lowest it's been since early September.

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