Despite the higher interest rates of the past five months, buyers are still taking out home loans at an increasing rate.
According to a survey by the Mortgage Bankers Association, mortgage applications increased 6.2 percent last week, up from the week before.
“This was despite the fact that mortgage rates reached their highest level since July,” said Michael Fratantoni, the association’s chief economist.
Image via Flickr/Rental Realities
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