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Homebuyers fuel mortgage volume rise

May 10, 2017
Mortgage volume is starting to rise again, and homebuyers are fueling the increase. Total mortgage application volume, including for refinancings and home purchases, rose 2.4 percent last week on a seasonally adjusted basis, according the Mortgage Bankers Association. 

Homebuyers are seemingly undeterred by higher home prices and the limited number of homes for sale. Mortgage applications to buy a home increased 2 percent last week, and are now 6 percent higher than a year ago.

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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.

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