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Mortgage applications shoot up 8.3% to start the year

Mortgage applications shoot up 8.3% to start the year

Refinance applications led the charge, rising 11 percent from the previous week. Homeowners may be taking advantage of lower rates now, concerned that rates will move higher this year. Rates were higher at the start of 2017 than they are now. Homeowners also saw big gains in home equity last year and may be taking advantage of that in cash-out refinances.

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