Mortgage applications down last week.

Due to shortened week, most analysts agree, mortgage applications were down last week, even though mortgage rates actually dropped.

Fixed 30-year mortgage rates averaged 5.67 percent last week, down points from 5.72 percent the week before.

Refinancings, down significantly this year, made up 48 percent of all mortgage applications last week, up from 46.2 percent last week.

One-year adjustable-rate mortgage rates averaged 4.17 percent, up 12 points from the previous week.

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