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Mortgage Application Volume Falls Back as Rates Rise

Wednesday, June 13, 2018

The flurry of mortgage activity during the week ended June 1st didn't last long.  Application volume resumed its months-long retreat last week as interest rates rose.  The Mortgage Bankers Association said its Market Composite Index, a measure of volume, fell back by 1.5 percent on a seasonally adjusted basis during the week ended June 8.  Because the previous week's data was adjusted to account for the Memorial Day Holiday, the June 8 index rebounded on an unadjusted basis, rising by 9.0 percent compared to earlier shortened week.

 

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