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Mortgage Applications Rise as Rates Fall for Third Week

Mortgage Applications Rise as Rates Fall for Third Week

December 7th, 2018 | Mortgage News

More mortgage borrowers turned in loan applications this week, according to the Mortgage Bankers Association, in response to another week of falling interest rates. The MBA’s Mortgage Composite index – a measure of mortgage application volume - rose 2% during the week ended Nov. 23, 2018, while mortgage rates dropped for the third straight week to 5.08%. Refinance applications were more popular as rated declined, making up 40.4% of all requests, an increase from 37.9% the week before.