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Mortgage demand slows despite low rates, but credit card use soars
Mortgage demand slows despite low rates, but credit card use soars

With mortgage rates at record lows for the year, you might figure that demand for home loans would be high -- but at this point Americans seem more interested in loading up their credit cards. The average rate for a 30-year fixed mortgage came in at 4.12% this week, Freddie Mac said Thursday, up from 4.1% during the three previous weeks, which was the lowest level of 2014. The average 15-year fixed rate was 3.26%, up from 3.24% last week and a low of 3.21% for the year. But mortgage applications fell 7.2% last week to the lowest level since December 2000, according to a Mortgage Bankers Assn. report on Wednesday. A recent flurry of refinancings was winding down, with applications for...

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