According to the Mortgage Bankers Association, mortgage applications experienced a decline of 5.2% for the week ending May 31 compared to the previous week. This drop in applications may be attributed to various factors impacting the housing market and borrower demand.

Key points:
– Mortgage applications decreased by 5.2% for the week ending May 31.
– Factors contributing to this decline may include changes in interest rates, housing market conditions, and borrower demand.
– Industry experts will be closely monitoring future trends in mortgage applications to assess the overall health of the housing market.

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