Industry News

Home purchases decline last week

Borrowing costs jump on 15-, 30-year loans, dive on adjustables
Published on Sep 26, 2007

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by CareyBot

Applications for home-purchase loans dropped significantly last week as long-term interest rates climbed higher, the Mortgage Bankers Association reported today. The market composite index, a measure of total mortgage application volume, was down 2.8 percent on a seasonally adjusted basis ...

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