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Mortgage rates rose to the highest level in nearly three years, causing demand for both refinancing and homebuying to decline even further.
Rising borrowing costs have pushed mortgage applications to their lowest level since February 2025.
It was an exciting day for mortgage rates, and while we technically ended up slightly higher, it could have been much worse. In fact, it WAS much worse earlier in the day, but only for about 30 minutes. Our daily rate index can be updated throughout the day if mortgage lenders change their rates in sufficient…