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Refinance and Purchase Mortgage Applications Decline
Mortgage News > Refinance and Purchase Mortgage Applications Decline
The Mortgage Brokers Association reported a drop in refinance and purchase mortgage applications. The combined number of refinance and purchase applications is the lowest it has been in 10 months, yet purchase application numbers still remain higher than where they stood this week last year.
The trend in applications has coincided with the slow increase of historically low interest rates.