Mortgage loan application volumes to either purchase or refinance a home in the U.S. ticked up 1.8 percent on a seasonally adjusted basis over the past week but slipped 0.1 percent in the absolute, with a 0.4 percent decrease in applications to purchase a home, according to the Mortgage Bankers Association.

And on a year-over-year basis, refinancing activity was down 34 percent and purchase activity was down 4 percent with a 15.2 percent drop in application volumes to purchase a new home last month and the benchmark 30-year mortgage rate having held at 3.1 percent.

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