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Mortgage refinance demand drops 18% as rates hit highest level since August
Mortgage refinance demand fell 18% as rates reached a nine-month high, while homebuyers remained more active than last year despite reduced activity. Rates hit their highest level since August, disproportionately impacting refinancing activity.
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Adjacent reporting
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- Mortgage rates move to highest level in 5 weeks, but homebuyers shake it off
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- US Mortgage Rates Are Little Changed Despite Surging Inflation
- Average US long-term mortgage rate eases to 6.37% after rising five weeks in a row
- April home sales disappoint as higher mortgage rates weigh on buyers