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Higher-than-expected inflation reading cools mortgage demand: MBA 

Mortgage demand receded after the release of a stronger-than-expected inflation reading last week.

Mortgage applications decreased by 1.6% on a seasonally adjusted basis during the week ending March 15, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. It was the first decrease in demand in three weeks. 

“Mortgage rates increased last week as incoming data showed inflation was still hotter than expected, which stoked concerns about the timing and extent to which the Fed might be able to reduce the fed funds rates this year. After three weeks of declines, the details ⇒

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