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Weekly mortgage applications tank even more, as rising rates make homes less affordable

Weekly mortgage applications tank even more, as rising rates make homes less affordable

"The drumbeat continues. Inflation is increasing, as are deficits, and the economy and job market continue to look strong, and rates are higher as a result," said Mike Fratantoni, chief economist for the MBA. "This upward move in rates is coming right at the start of the spring buying season and is a headwind."

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