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  /  News   /  Economic Report: Mortgage demand rises 7% as rates fall for the third week in a row, but buying activity remains ‘tepid’

Economic Report: Mortgage demand rises 7% as rates fall for the third week in a row, but buying activity remains ‘tepid’

The numbers: As mortgage rates fall, homeowners are seizing the opportunity to refinance their mortgages. Mortgage demand rose seasonally adjusted 7% in the latest week.

Demand for both purchases and refinancing increased. That pushed the market composite index up, a measure of mortgage application volume, the Mortgage Bankers Association (MBA) said on Wednesday. 

The…

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