Refinances recovered activity share after declining to a decade low
Ellie Mae said the purchase market began to gain momentum during the month
There was a drop in new mortgage applications last week as refinance loans outpaced growth for purchase loans
The decline came as mortgage application volume ticked up slightly
Mortgage applications for new home purchase were up 4.6% in February compared to a year earlier; and up 3% compared to January, the Mortgage Bankers Association reported
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