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Mortgage Applications Calm Before The Storm?

Wednesday, February 26, 2020

There was a new round of interest rate cuts during the week ended February 21, but consumers largely ignored the additional potential for refinancing. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage volume, increased by 1.5 percent from the previous week on an unadjusted basis, but was down 7 percent on an unadjusted basis. The increase in the adjusted index may have, in part, been because of an adjustment to account for the Presidents' Day Holiday which shortened the week.

 

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