by RICARDO ANDERSON
Rising mortgage are weighing on interest rates for the housing sector.
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Federal reserves push on with the lifting of borrowing costs in order to maintain inflation.
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The central bank is ready to raise interest rates by three-quarters of a percentage for 3 consecutive times.
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From the start of 2022, the expectations for fed tightening have led to surgeon Treasury yields.
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The yield on the 10-year.note acts as a measure of mortgage rates.
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Mortgage loan application volume raised 3.8% from a week earlier but remained below the last year's level.
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The refinance index jumped 10.4% from the prior week but was low at 82.7%compared to last year.
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