The mortgage industry saw a decrease in applications last week, as rates remained high. Around 6.87% was the average for the week, which caused many potential buyers to back out or pause on their home-buying journey. This can be discouraging for the industry, which sees a lot of potential in the coming months.

– Mortgage rates remained high last week, at an average of 6.87%.
– This caused many mortgage applications to fall from the week before.
– The industry is seeing potential in the coming months, despite the decrease in applications last week.

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