Mortgage applications to buy a home finally spring back, climbing 5%

The real estate market is signaling stronger sales ahead as homebuyers finally returned to the mortgage market after two weeks of weakening during the height of the spring housing season. Higher mortgage rates, however, pushed the refinance market lower. Total mortgage application volume fell 0.1 percent last week on a seasonally adjusted basis from the previous week. Volume remains 15 percent lower than the same week one year ago, according to a weekly index from the Mortgage Bankers Association.

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Source: CNBC

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