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Falling mortgage rates boost demand for mortgages

Economic Report Published: May 10, 2023 at 7:00 a.m. ET Mortgage applications rose 6.3% in the latest week, the Mortgage Bankers Association says Rates may be falling, but home buyers are still dealing with low inventory of homes on the market. Getty Images The numbers: Mortgage rates fell as the U.S. Federal Reserve signaled a
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falling-mortgage-rates-boost-demand-for-mortgages

Economic Report

Mortgage applications rose 6.3% in the latest week, the Mortgage Bankers Association says

Rates may be falling, but home buyers are still dealing with low inventory of homes on the market.

Getty Images

The numbers: Mortgage rates fell as the U.S. Federal Reserve signaled a potential pause in interest-rate hikes. Home buyers took advantage of the opportunity, boosting demand for mortgages.

Mortgage applications rose 6.3% in the latest week as rates fell across the board.

Demand for purchases and refinancing rose. That pushed the market composite…

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