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Mortgage Demand Levels Off as Rates Rise Again

With mortgage rates on the rise, consumer demand for mortgages has inched in the opposite direction. So reports CNBC.

 

MBAThe Mortgage Bankers Association’s seasonally adjusted index shows that mortgage applications edged down 0.1% in the week ending November 4.

MBA economist Joel Kan cited rising interest rates. Refinance demand was 87% lower than in the same week a year ago.

Read the full article from CNBC.

 

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