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flag US mortgage applications fell 12.7% last week as rates hit 6.9%, highest in two months.

flag Mortgage applications in the US dropped 12.7% last week, with the Market Composite Index falling by the same percentage, due to a rise in mortgage rates to 6.9%, their highest in two months. flag Refinance applications fell by 20%, while purchase applications decreased by 7%, affected by economic uncertainty and rising home prices. flag Despite the decline, purchase applications were still 6% higher than last year.

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