Mortgage Rates Fall, Still Hard to Get Loan
National mortgage rates moderated in the week ending July 31, spurring demand for new loans after a slump in the previous week, according to a weekly industry survey.
The Mortgage Bankers Association said average rates for a 30-year mortgage fell from 5.36% to 5.17% last week, their lowest level since the first week of July. The decline in rates helped refinance-related loans jump 7.2% in the week, leading the Market Composite Index â€
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