Mortgage applications fell 2.9% last week: MBA |
| MarketWatch - Mar 19, 2008 |
Applications filed for mortgages fell a seasonally adjusted 2.9% last week even as interest rates on fixed-rate mortgages declined, the Mortgage Bankers Association said Wednesday.
Application volume dropped an unadjusted 3.7% compared with the same week in 2007.
Applications for mortgages to purchase homes were down a seasonally adjusted 1.0% in the week ended March 14 compared with the week before. Refinancing applications dropped 4.6% on a week-to-week basis.
But the latest week marked another period of greater interest in loans backed by the Federal Housing Administration. The Washington-based MBA's Government Purchase Index, made up of mostly FHA loan applications, increased 7.7% last week compared with the week before, while the Government Refinance Index rose 11.4%.
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- Posted: 2008-03-19 09:57:45
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