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Fewer Apply for Mortgages as Rates Surge
Mortgage applications fall 12%
July 3, 2013
By PATRICE HILL The Washington Times - McClatchy-Tribune Information Services
The biggest jump in interest rates since 1987 is pummeling the mortgage market, sending the average rate on 30-year loans to a two-year high of 4.58 percent last week, the Mortgage Bankers Association reported Wednesday morning.
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