Source: Mortgage Orb —
A decrease in mortgage rates resulted in mortgage application volume increasing 2.2% during the week ended November 18.
According to the Mortgage Bankers Association’s Weekly Applications Survey, applications for refinances increased 2% compared with the previous week, while applications for purchases increased 3% compared with the previous week.
Still, applications for refinances were down 86% compared with the same week one year earlier. And applications for purchases were down 41% year over year.
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