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Mortgage Applications Today: Home Loan Demand Rebounds After Rates Hit Lowest Level in Over a Year

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Couple house-hunting with Realtor

The demand for home loans rebounded with a 7.1% increase for the week ending Oct. 24, according to the Mortgage Bankers Association (MBA). It’s a turnaround from a week ago when mortgage applications decreased by 0.3%. The surge comes as mortgage interest rates dropped to 6.19%, the lowest level in over a year for the … Read more

Mortgage Rates Hit Lowest Level in Over a Year as Fed Eyes Possible Rate Cut

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Mortgage Rates Hit Lowest Level in Over a Year as Fed Eyes Possible Rate Cut

Mortgage rates dipped yet again. The Freddie Mac 30-year fixed rate fell to 6.19%, its lowest level in more than a year. That’s a meaningful drop, and it comes as markets fully price in another possible Federal Reserve rate cut after it meets next week. While this gives buyers some breathing room, it’s worth noting … Read more