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Cooling Refinance Demand Drags Down Mortgage Activity

Demand for mortgages, particularly refinances, has kept declining as mortgage rates recover. So reports CNBC.

MBAThe Mortgage Bankers Association’s seasonally adjusted index dropped 2.8% in the week ending November 12, as refinance applications slid by 5%.

MBA economic forecaster Joel Kan said in a statement that “activity has been particularly sensitive to rate movements.”

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