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“Weekly mortgage demand surges 11% as more homes hit the spring market”

“…Mortgage applications to purchase a home increased 11% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was still 8% lower than the same week one year ago.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02% from 7.04%, with points unchanged at 0.67 (including the origination fee) for loans with a 20% down payment…”

https://www.cnbc.com/2024/03/06/weekly-mortgage-demand-surges-11percent-as-more-homes-hit-the-spring-market.html

Why is this week to week instead of month to month?

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