Real Estate & Home

Mortgage Applications Fall as Elevated Rates Discourage Late-Summer Buyers

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Mortgage applications declined last week as interest rates rose due to geopolitical tensions and trade disputes, leading to a 1% decrease in MBA's Market Composite Index from the previous week. This trend is discouraging late-summer homebuyers and slowing down both purchase and refinance activities, with purchase activity down 5% year over year.

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