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Mortgage applications end 2017 lower as rates rose

Mortgage applications end 2017 lower as rates rose

"With the passage of the tax reform bill, there were increased expectations of stronger economic growth, which pushed rates higher," said Joel Kan, an MBA economist.

Mortgage applications to purchase a home, which are less rate-sensitive week to week, increased 1 percent in the final two weeks of the year and ended 3 percent higher than at the end of 2016.

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