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- Home loan applications rose 7% last week as the 30-year fixed rate for mortgages fell further.
- The Mortgage Bankers Association said the rate on the popular mortgage product fell to 6.2%, the lowest in four months.
- Lower mortgage rates could spur more buyers into the currently "tepid" housing market.
Demand for US home loans rose again in early 2023 as a key borrowing rate slipped to a four-month low, a nascent trend that could point to improving conditions in the hard-hit housing market.