Mortgage applications fall for third straight week, despite lower interest rates

nterest rates were much higher back then. Overall volume for mortgage applications fell 1.4% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was still 35% higher than a year ago, when interest rates were significantly higher.   Homebuyers, or lack thereof, drove demand lower. Mortgage applications to purchase a home fell 3% for the week but were 6% higher than a year ago. The shift may be less about rates and more about what kind of homes are for sale and at…

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