Real Estate

Weekly mortgage applications take a hit as mortgage rates tick up

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A real estate agent with prospective buyers looking at the back yard from the kitchen during a showing.

Joe Amon | Denver Post | Getty Images

The refinance boom took a step back last week, bringing down total mortgage applications.

Mortgage application volume decreased 6.4% from the previous week, according to the Mortgage Bankers Association.

Refinance demand had been driving the volume of mortgage applications up, but refinance applications decreased 8% for the week, according to the MBA’s seasonally adjusted tally. The refinance index is still up year over year, with an increase of 165% from a year ago. Even with the weekly drop, it was the third highest reading this year.

Mortgage rates…



Source cnbc.com

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