As mortgage rates inch higher, buyers are rushing to get in before they go up again. The Mortgage Bankers Association reports that total mortgage application rose 9.6% last week, when compared to the previous week. Refinance demand, which is most sensitive to small rate moves, jumped 13% higher from the previous week and are 188% above a year ago.
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Weekly mortgage applications jump to highest level in over a month, as borrowers worry that lower rates may be over