Holidays Dampen Demand, Rates Bounce off Bottom

The U.S. Mortgage Market Index from Mortech Inc. and MortgageDaily.com for the week ended Dec. 23 was 193. It was the slowest week for loan inquiries since the Thanksgiving index of 161. The 30-year mortgage average fell to the lowest on record, but an analysis of market data reported by the Department of the Treasury indicates that mortgage rates could be around 12 basis points worse by the time the next report rolls around.

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