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Published 2 months ago

Mortgage Applications Fall as Interest Rates Remain High

  • Mortgage interest rates surged last week, resulting in a 10.6% drop in application volume reported by the Mortgage Bankers Association.
  • Applications for purchasing a home fell by 10% last week and were 13% lower compared to the same week a year ago, impacting potential homebuyers' affordability.
  • Refinance applications decreased by 11% last week, with current rates making refinancing less appealing to borrowers.
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