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Tag Archives: Market Composite Index

Mortgage Applications Reach Lowest Level in Nearly Three Decades

“Mortgage applications decreased for the seventh time in eight weeks, reaching the lowest level since 1996,” said Joel Kan, MBA’s VP and Deputy Chief Economist. “Last week’s decline was driven by a 5% drop in refinance applications, to the weakest reading since January 2023.”

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Mortgage Rates on the Rise

Fueled by the trajectory of both the economy and the pandemic, mortgage rates advanced upward this week; however, the housing market is expected to remain strong as 2021 comes to an end.

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