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Rates inch up, mortgage applications recede

Jun 13, 2018
The recent drop in interest rates appears to be short-lived. Mortgage rates inched higher last week, prompting loan demand to soften.

Total mortgage application volume, which includes home purchases and refinancings, dropped 1.5 percent last week compared to the previous week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. Applications are now 15.4 percent lower than a year ago. 

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December 2018 Housing Market

In December, the New York State housing market saw 10,267 closed sales, a median sales price up 5.5% from last year to $272,043 and an average of 73 days on the market. Click here to read more.

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