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Mortgage applications dip 0.5 percent in latest survey as rates rise 7 basis points

The Market Composite Index decreased 0.5 percent on a seasonally adjusted Basis from one week earlier, with purchase loans up 3 percent and refinancing down 4 percent. The average contract interest Rate for 30-year fixed-rate mortgages increased to 4.11 percent from 4.04 percent.

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This post first appeared on The Housing Chronicles, please read the originial post: here

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Mortgage applications dip 0.5 percent in latest survey as rates rise 7 basis points

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