Industry NewsMortgage

Mortgage apps down on higher rates

Interest in FHA purchase loans up
Published on Jan 29, 2009

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by CareyBot

Mortgage applications fell 38.8 percent last week as interest rates on most loans remained elevated above recent lows, the Mortgage Bankers Association said.

Applications for refinance loans fell 48 percent from the previous week during the week ending Jan. 23, while applications for purchase loans were off a more modest 2.9 percent, the MBA said.

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