Lower Mortgage Rates but Application Rates Unchanged from Last Week

 The National Association of Mortgage Bankers Association (MBA) has reported that mortgage rates dipped slightly this week – decreasing from 4.05% to 3.98% on a 30-year fixed-rate mortgage. However, the MBA is reporting that total mortgage applications were down 0.1% when compared to the previous week. Mortgage applications to refinance an existing home loan, which are far more sensitive to weekly rate adjustments, increased 2% for the week.

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