Mortgage rates jumped to the highest averages of the year last week, prompting volume to fall, the Mortgage
Bankers Association reported Wednesday. However, many high-end home buyers weren't deterred by the higher rates. Applications for home purchases increased 2 percent for the week and are now 2 percent higher than year-ago levels,
MBA reports. The rise was mostly due to high-end home buyers, with the
average purchase loan size rising to $294,000 last week—the highest ever
recorded by MBA. Fifty-four
percent of Americans say that they believe getting a mortgage is easy. Read more about March 2015: Spring Home buying Season
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