Mortgage rates increased last week as refinancing applications fell and purchase applications held steady. The Mortgage Bankers Association’s weekly survey of 75 percent of the residential mortgage market saw the average 30-year fixed-rate mortgage increase to 3.13 percent, up seven basis points from 3.06 percent the previous week. Jumbo rates also increased by one basis point to 3.41 percent. Despite the uptick in rates, the number of applications to buy homes rose by 1 percent,
source https://therealdeal.com/2020/08/19/rising-rates-push-down-refinancing-applications/
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