New applications for mortgages at major U.S. lenders fell 4.5% last week, the Mortgage Bankers Association said Wednesday. Applications are up 12.7% year-over-year. The four-week average of new applications fell 1%. Applications for purchases dropped 3.6%, while applications for refinancings dropped 5.4%. The share of loans with adjustable rates fell to 27.8% from 28.1%. The share of loans to be used for refinancing a current loan rose to 43.8% from 43.7%