(MENAFN) According to the Mortgage Bankers Association, mortgage application volume decreased 2.1% on a seasonally adjusted basis. Also, volume was 28% higher than the same period of the last year.
For the week , a fall in applications to refinance a home loan by 3%, but when interest rate were higher, volume was nearly 45% higher than the same week last year.
However, the average contract interest rate for 30 year fixed rate mortgages increased to 3.67% from 3.64% the previous week.
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