Mortgage demand rises to highest since '04: MBA

ek to their highest level in nearly four years, fueled by demand for home purchase loans, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended February 1 rose 3 percent to 1,086.6, its highest since the week ended March 26, 2004.

Many analysts, however, say the MBA's data has been skewed in recent months as prospective borrowers have been filing multiple applications to obtain a single loan due to widespread tightening of lending standards.

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- Posted: 2008-02-06 09:24:34

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