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Mortgage demand slows as rates hit 7-month high – Fox Business

Demand for mortgage applications remained tepid last week as rates rose to their highest level since July.

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Demand for mortgage applications remained tepid last week as rates rose to their highest level since July.
Total mortgage loan volume rose by a seasonally adjusted rate of 0.5% in the week ended Feb 26., according to the Mortgage Bankers Association. Refinancings were up 0.1%.
“Mortgage rates jumped last week on market expectations of stronger growth and higher inflation,” Joel Kan, MBA’s associate vice president of economic and industry forecasting, said in a statement.
The 30-year fixed mortgage…

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