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U.S. Mortgage Applications Decline for Second Week

M. Ali 7 April, 2021 9:00 pm Market Update

Applications for new loans to purchase houses in the United States declined by 4.6% last week, data by the Mortgage Bankers Association (MBA) showed on Wednesday.

This is the second consecutive weekly decline for U.S. mortgage applications.

The fixed-rate for the 30-year mortgage rose to its highest level in about 10 months at 3.36%, which contributed to the decline in mortgage applications coupled with rising house prices due to supply shortage.

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