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Purchase Mortgage Applications Reach Lowest Level in More than a Year

Motley Fool

Cover picture for the articleHere's why fewer people have been applying for mortgages to buy a home. Mortgage rates have been sitting near historic lows since the beginning of 2021, but in recent weeks, they've really come down. In spite of that, mortgage applications to purchase a new home hit their lowest level in over a year for the week ending June 23, according to the Mortgage Bankers Association.

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