Mortgage rates plunge and demand finally inches back

PUBLISHED WED, NOV 8 20237:00 AM ESTUPDATED WED, NOV 8 20237:40 AM EST

By: Diana Olick

Mortgage rates saw the biggest one-week drop in over a year last week, causing the first increase in mortgage demand in a month.

Total mortgage application volume rose 2.5% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

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