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Mortgage Applications Down as Purchase Demand Falls
Published:
Wednesday, 15 Feb 2012 | 7:03 AM ET
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By: Reuters
Applications for U.S. home mortgages slipped last week, pulled lower by a steep drop in demand for home purchases, an industry group said on Wednesday.
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CNBC.com |
The gauge of loan requests for home purchases tumbled 8.4 percent, though the index refinancing applications edged up 0.8 percent.
The refinance share of total mortgage activity also rose to 81.1 percent of applications from 80.5 percent the week before.
Fixed 30-year mortgage rates averaged 4.08 percent, up 3 basis points from 4.05 percent.
The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.
Copyright 2012 Thomson Reuters. Click for restrictions.
Data is a real-time snapshot *Data is delayed at least 15 minutes
