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Mortgage Demand Rose for the First Week Since Early March

Weekly mortgage demand has increased for the first time since early March, although it’s likely just a blip. So reports CNBC.

arrow up iconAccording to the Mortgage Bankers Association, total mortgage application volume was up 2.5% on a seasonally adjusted basis for the week ended April 29, compared to the week prior.

“The purchase market remains challenged by low levels of housing inventory and rapid home-price gains, as well as the affordability hit from higher mortgage rates that are forcing prospective buyers to factor in higher monthly payments," MBA economist Joel Kan said in a statement.

Read the full article from CNBC.

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