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Housing Trends

The housing market is cooling down, mortgage data suggests

Experts say buyers shouldn’t expect to find too many bargains

With home prices at record highs and mortgage rates well over 5%, fewer Americans are buying homes – a fact reflected in the most recent mortgage data.

Last week, the Mortgage Bankers Association reported that applications for mortgages fell by 6.5% in just one week. That was followed by a report from property data firm ATTOM showing that residential mortgage origination in the first quarter of this year fell 18% from the fourth quarter of last year.

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