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NEW YORK (Reuters) - U.S. application activity on mortgage refinancing jumped to a 10-week high as average interest rates on some home loans fell to their lowest levels since November, the Mortgage Bankers Association said on Wednesday.
The Washington-based group said its seasonally adjusted index on consumer requests to refinance an existing mortgage climbed 10.5 percent to 1,402.0 in the week ended May 19. This was the highest reading since 1,413.30 in the March 10 week.
Reporting by Richard Leong; Editing by Chizu Nomiyama