It didn't take much for the mortgage market to plunge into a deep freeze.
As temperatures fell across the country last week, so did mortgage applications, down 12.8 percent from the week before, according to the Mortgage Bankers Association. That includes an adjustment for the Thanksgiving Day holiday, but the shortened week still played a role in the drop.
Applications to refinance fell the hardest, down 18 percent week-to-week, seasonally adjusted, to the lowest level since the first week of September. Applications to purchase a home fell 4 percent.
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