Mortgage applications dropped 5.7% in the week ended Nov. 19, Mortgage Bankers Association said today. On a seasonally adjusted basis, the refinancing index fell 8.3% while the volume of applications for mortgages to purchase homes fell by 3.5%. Refinancings accounted for 48.4% of total applications last week, off from 48.6% a week earlier, while adjustable-rate mortgages held steady at 34.0%. The 30-year fixed-rate mortgage fell to 5.64% from 5.7% on a week-to-week basis.