Real Estate Market Still Strong But Higher Mortgage Rates Stall Refinance Boom


Mortgage applications have fallen for the third straight week, but the results of a closely watched survey show that would-be buyers continue to shop for houses and take out loans — whether they’re wanting to buy for the first time or upgrade into more space.

Buyers seem undaunted by rising mortgage rates, but it’s a different story with homeowners.

With rates going up, refinance applications have fallen to their lowest level in six months. That’s even though mortgage rates remain low by historical standards and still offer millions of homeowners the chance to take out cheaper loans and reduce their monthly mortgage payments.

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