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US mortgage activity falls as 30-year rates hit 2-year highs

Published December 14, 2016 Updated December 14, 2016 08:18pm

1 min

By Shoaib Ur Rehman

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NEW YORK: US mortgage application activity declined for a third straight week as interest rates on 30-year fixed-rate home loans reached their highest levels in more than two years, Mortgage Bankers Association data released on Wednesday showed.

The Washington-based industry group said its measure on requests for mortgages fell 4.0 percent in the week ended Dec. 9 to 397.5, which was its lowest since 328.6 in the week ended Jan. 1.

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