Mortgage applications fall as rates jump - KWWL - Eastern Iowa Breaking News, Weather, Closings

Mortgage applications fall as rates jump

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NEW YORK (AP) -- The number of people applying for a mortgage dropped last week as rates jumped.  The Mortgage Bankers Association says its overall mortgage application index fell 5.5 percent from the previous week.

Mortgage rates hit the lowest level in decades in November on concerns over a sluggish economy.

Meanwhile, rates on fixed mortgages climbed last week as more upbeat economic indicators convinced investors to sell off Treasury bonds. 

 

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