Mortgage applications

 Mortgage applications fell and refinancing is not particularly in demand, despite the decreasing cost

Highlights
The index for mortgage purchase applications fell 3.3 per minutet following a 0.4 percent slip in the prior week. The index had been on a climb in earlier weeks. The refinance index fell 0.9 for a third straight dip. Refinancing made up 81 percent of total applications. The composite index, which combines the refinance and purchase indexes, fell 1.4 percent. The average rate for 30-year mortgages fell three tenths to 4.44 percent. Existing home sales for August will be posted tomorrow at 10:00 AND.