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Mortgage Applications Bouncing Back

Mortgage rates remained largely flat or even slightly lower during the week ended November 30.  This probably helped to maintain the upward trend in mortgage applications that began the previous week during the Thanksgiving holiday and despite a shortened work week.

The Mortgage Bankers Association (MBA) said its market Composite Index, a measure of loan application volume, moved up 2 percent on a seasonally adjusted basis and after an adjustment to the prior week's report to account for the holiday.   On a non-adjusted basis, applications shot up 42 percent.

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