At the same time, mortgage applications declined 1.7% on a seasonally adjusted basis on a week-over-week basis, according to the Mortgage Bankers Association.
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Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan applications.
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Black applicants were 84% more likely to be denied a mortgage than white applicants, the data showed, an increase from the 74% disparity in 2019.
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