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US mortgage applications plunge to lowest levels since 2019

By Ishika Dangayach - Feb 23, 2022, 04:57 PM ET
Last Updated - Feb 14, 2024, 02:44 PM EST
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The Mortgage Bankers Association (MBA) said that its Market Composite Index, a gauge of mortgage loan application volume, slipped 13.1 % to 466.4 from the previous week. It was the lowest point since December 2019

The Market Composite Index slips to 466.4 from the last week

• The Market Composite Index slips to 466.4 from the last week

• The Refinance Index falls 16 % from the previous week

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U.S. mortgage applications plummeted to their lowest level in more than two years last week, signaling that rising mortgage rates are a hindrance to the real estate market.

The Mortgage Bankers Association (MBA) said that its Market Composite Index, a gauge of mortgage loan application volume, slipped 13.1 % to 466.4 from the previous week. It was the lowest point since December 2019.

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