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    Weekly mortgage refinances fall as interest rates suddenly turn higher

    A sudden turnaround from record low interest rates last week caused a pullback in mortgage refinance demand.That pulled total mortgage application volume down 3.3% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) increased rather abruptly… More