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Mortgage Demand Eases As Refinancing Activity Slows

Mortgage applications have fallen by 2.4% in one week, according to the latest data from the Mortgage Bankers Association. So reports Reuters.

MBAThe decline in the MBA’s seasonally adjusted market composite index for the week ending Aug. 27 came alongside a 3.8% drop in refinance applications.

Joel Kan, MBA’s associate vice president of economic and industry forecasting, said that “some borrowers [were] still waiting for rates to drop even lower.”

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