Market Update: U.S. mortgage applications fell for a second week

The Mortgage Bankers Association’s Weekly Mortgage Applications Survey reported another drop in mortgage applications. Quicken Loans Chief Economist Bob Walters offers the following comments on the report:

“Despite rates staying low, mortgage applications fell 7.1% last week. With spring right around the corner, which marks the start of the home buying season, I’d expect to see much improved figures in the coming months.”

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