photo from above of homes in a neighborhood Source: Shutterstock.

Mortgage applications fell for the fourth week in a row as existing home sales continued sliding and interest rates reached new records.

The National Association of Realtors (NAR) reported Thursday that existing homes sold at a seasonally adjusted annual rate of 4.71 million in September, down 24% from a year earlier and down 1.5% from August. It marked the eighth month in a row of declines.

Jim DuPlessis

A journalist for decades.

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