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Mortgage Demand Eases as Refinance Applications Tumble

Recent weeks’ rebound in interest rates has cut into the U.S. appetite for mortgages. So reports CNBC.

arrow 24112 640 smallAccording to the Mortgage Bankers Association’s seasonally adjusted index, total application volume dropped 6.9% in the week ending October 1.

The drop was especially sharp for refinances, with applications skidding to their lowest level in three months.

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