Mortgage applications barely budged from last week as mortgage rates remained near — and are expected to remain near — the “psychological level” of 7%.

“Incoming economic data are likely to keep the Federal Reserve on hold for now,” said Mike Fratantoni, senior vice president and chief economist of the Mortgage Bankers Association (MBA), “while uncertainties about economic policy are likely to keep longer-term rates, including mortgage rates, steady at these levels.”

 

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