Weekly mortgage applications fall 4.6% as rates rise

A few weeks ago, it looked like interest rates were on their way down again, but that was short-lived. So was the surge in mortgage application volume that went along with it. Interest rates rose last week, and consequently total mortgage application volume fell 4.6% from the previous week. The Mortgage Bankers Association’s seasonally adjusted weekly index now stands down 19% from the same week one year ago.

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