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Mortgage Demand Slips Again Over Labor Day Weekend

Across both refinances and home purchases, demand for mortgages has continued its downward trend, according to the Mortgage Bankers Association.

MBAThe MBA’s seasonally adjusted index of mortgage loan application volume fell 1.2% for the week ending September 9, including an adjustment for the Labor Day holiday.

“Higher mortgage rates have pushed refinance activity down more than 80 percent from last year and have contributed to more homebuyers staying on the sidelines,” Joel Kan, MBA’s associate vice president of economic and industry forecasting, said in a statement.

Read the full announcement from the MBA.

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