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Mortgage applications fall, as refinancing hits 20-year low

Mortgage applications fall, as refinancing hits 20-year low

“A shortage of inventory remains a significant constraint, but it is interesting to note that applications for government purchase loans fared better on the week, indicating that first-time buyers remain in the market,” said Fratantoni.

The critical shortage of homes for sale continues to be the most formidable roadblock to a full housing recovery. Supplies are not getting much better, and home price gains are accelerating as buyers compete for the very few good listings on the market.

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