Lower mortgage rates have brought increased mortgage demand. Total home loan applications increased 0.3% for the week ending Nov. 24 compared to the previous week, according to data from the Mortgage Bankers Association (MBA).

Mortgage rates for the 30-year fixed loan averaged 7.29% as of Nov. 22, falling 15 basis points in one week, according to Freddie Mac‘s Primary Mortgage Market Survey. Over the past six weeks, mortgage rates have fallen by more than 50 basis points.

“The purchase market remains depressed because of the ongoing, details ⇒

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