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Mortgage Apps Are Up 35% Over 2019

Mortgage News > Mortgage Apps Are Up 35% Over 2019
Date: 09/02/2020    Mortgage Apps Are Up 35% Over 2019

Even as demand for new mortgages slipped from last week, applications are up 35% over a year ago, according to the Mortgage Bankers Association. Total mortgage application requests declined 2% from the previous week, led by a 3% decrease in refinance applications (which were still up 40% over 2019.) Applications to purchase a home inched down 0.2% but were up 28% compared with last year. The MBA says the strength in home buying comes from low interest rates and pent-up demand from the coronavirus shutdowns.

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