Mortgage applications fall 2.4% despite rate drop

• MBA Mortgage Applications
• Composite Index: -2.4% vs. +9.3% last week.
• Purchase Index: -5.0% vs. +12.0%.
• Refinance Index: -1.0% vs. +7.0%.
• 30 year mortgage rate 3.79% vs. 3.83%.
• ETFs: MORL, REM, MORT, TSI, DMO, BOI, FMY, JLS, CMBS, JMT, LMBS, MBSD, PGZ