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The number of mortgage loan applicants in the U.S. has risen after the lending rate fell

The Mortgage Bankers Association (MBA) reported that mortgage loan applicants rose 2.2% last week after mortgage rates fell.

The number of people applying for refinance loans rose 2% last week, but is down 86% from a year ago.

The number of applicants for home equity loans rose 3% last week, but fell 41% from a year earlier.

The average interest rate on 30-year fixed-rate mortgages with conforming loan balances of $647,200 or less fell to 6.67% from 6.90% the previous week.

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