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Mortgage Demand Falls, Lowest In 2 Months As Rates Stall

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Mortgage demand is the lowest in two months as interest rates stall. Applications to refinance existing loans fell three-percent last week as the national average interest rate for a 30-year fixed-rate mortgage was unchanged at three-point-03 percent.

Applications for loans to buy homes were essentially unchanged. Purchase applications are down 18-percent from this time last year while refinance applications are four-percent lower.

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