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Borrowers lock in loans as rates surge

Mar 16, 2017
Mortgage interest rates climbed to their highest level since 2014 last week, and customers are rushing to lock in rates before any further increases, according to the Mortgage Bankers Association. The average on a 30-year fixed-rate mortgage rose to 4.46 percent, up from 4.36 percent the week prior.

Total mortgage application volume, including both home purchases and refinancings, increased 3.1 percent last week from the previous week on a seasonally adjusted basis, the MBA says.

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Home sales near record high in November

There were 10,719 closed home sales across New York State during November, representing the second-highest total on record for the month. The November sales record of 10,991 was set in November 2016. The statewide median sales price grew by 5.8 percent in November compared to last November. Click here to read more.