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Mortgage Applications Falter Despite Drop in Rates

Mortgage News > Mortgage Applications Falter Despite Drop in Rates
Date: 08/29/2018    Mortgage Applications Falter Despite Drop in Rates

Fewer borrowers applied for mortgage loans in the past week, according to the Mortgage Bankers Association, with a 1.7% decrease in total mortgage application volume and a 15% decline from last year. Long-term mortgage interest rates in the latest week slipped to 5-week low, but that failed to give mortgage applications a boost as home affordability has continued to diminish.

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