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Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update discusses mortgage applications.
- Mortgage applications decreased 2.6 percent during the week ending December 16.
- The Purchase Index declined 4.9 percent from the prior week, and the Refinance Index decreased 1.6 percent.
- Interest rates on 30-year fixed mortgages declined to 4.08 percent, the lowest rate of 2011.
- Cash purchases—which have been steady at 30 percent of transactions—were not captured in the data.
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