This latest action by the Federal Reserve to raise rates is intended to remove money from the economy, reduce demand, and drive prices lower as inflation nears a 40-year high.
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Mortgage App Volume Ends Six-Week Skid
For the first time in more than 45 days, mortgage application volume turned upward, as the MBA reported overall app volume rose nearly 4% week-over week, ahead of yet another rate hike by the Fed.
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