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Weekly Mortgage Applications Rose Ahead of Rate Drop

Tuesday, Mar 03 2020
Lending
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Mortgage activity was up in the week before rates fell back to multi-year lows amid coronavirus fears. So reports CNBC.

For the week including Presidents Day, total mortgage application volume rose a seasonally adjusted 1.5%, according to the Mortgage Bankers Association.

“Last week appears to have been the calm before the storm,” said Mike Fratantoni, MBA’s senior vice president and chief economist.

Read the full article from CNBC.

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