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- U.S. weekly mortgage applications fall 2.5 percent
U.S. weekly mortgage applications fall 2.5 percent
The Mortgage
Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. fell 2.5 percent in the week ended September 11, following a 2.9
percent advance in the previous week.
According to
the report, refinance applications declined 3.7 percent, while applications to
purchase a home dropped 0.5 percent.
Meanwhile, the
average fixed 30-year mortgage rate remained unchanged at 3.07 percent.
“With the
flurry of refinance activity reported over the past several months, demand may
be slowing as remaining borrowers in the market potentially wait for another
sizable drop in rates,” noted Joel Kan, an MBA economist.
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