Mortgage Applications Dip for Third Week
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From Reuters
New U.S. mortgage applications fell last week for a third straight week, suggesting that rising mortgage rates were slowing the robust levels of U.S. home sales.
The Mortgage Bankers Assn. said its measure of weekly mortgage activity fell for the week ended Friday by 3.3% to 632.4 from the previous week’s 654.1. The group’s refinancing index decreased by 6.7% to 1,694.9, its lowest level so far in 2004, from the previous week’s 1,816.9.
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