Mortgage demand rises for the first time in six weeks, despite sharply higher interest rates


Mortgage application volume increased last week for the first time in six weeks, according to the Mortgage Bankers Association, despite a rise in interest rates. Abrupt swings in rates and uncertainty on the overall direction of the housing market are likely at play. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to ...

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