Industry News

Surging interest rates scare off borrowers

30-year fixed at highest point in 4 years, survey finds
Published on Jun 28, 2006

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by CareyBot

Overall mortgage applications fell 6.7 percent last week on a seasonally adjusted basis from the week before, as sharp gains in interest rates dissuaded borrowers, the Mortgage Bankers Association reported today. The seasonally adjusted purchase index decreased by 6.2 percent ...