Mortgage applications fell for the 4th straight week. Applications dipped .09%. With investors moving their money to safer options such as treasuries, yields are being pushed up. Mortgage rates tend to track treasuries yields so rates have moved up as well.
Refinance applications were down 1.4%. Purchase applications rose 1.8% last week. Refinance applications represent a greater percentage of the total mortgage applications which is why overall applications were down.
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