Mortgage applications fall as rates rise

Julie C. Nichols General

USA TODAY – Adam Shell

Homebuyers and homeowners filled out fewer mortgage and refinance applications last week as mortgage rates on loans jumped to their highest level in a month, the Mortgage Bankers Association said Wednesday.

Mortgage applications fell 1.8% in the week ended November 8. In its weekly mortgage application survey, the MBA also said that it had revised last week’s reading up. Mortgage applications fell just 2.8% in the prior week, versus an initial reading of -7%.

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