Lower mortgage rates yielding steady mortgage applications

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Lower mortgage rates yielding steady mortgage applications

Total mortgage application volume rose 0.6% on a seasonally adjusted basis from the previous week. Volume was nearly 14 percent lower compared with the same week one year ago, according to the Mortgage Bankers Association, when lower interest rates sparked a refinance boom.

Low rates are giving refinances another slight boost. Refinance volume for the week was 2 percent higher than the previous week but still about 30 percent lower than a year ago.

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Source: CNBC Real Estate