Mortgage Apps Dropped 16.6% Last Week
Demand for applications to buy homes and refinance mortgages sank 16.6 percent last week, according to Mortgage Bankers Association's (MBA).
The MBA's seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, slid last week to 408.1.
The trade group's purchase index fell 10.9 percent to 279.3 in the week ended Oct. 17, while its refinancing applications gauge tumbled 23.5 percent to 1,158.8.
Published on October 22, 2008
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