Industry NewsMortgage

Mortgage rates steady, applications off

Demand for FHA purchase loans holds up
Published on Feb 26, 2009

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by CareyBot

A survey of lenders shows applications for mortgages down 15 percent for the week ending Feb. 20, even with rates hovering near historic lows.

While applications for government-insured purchase loans held steady, applications for refinance loans were down a seasonally adjusted 19.1 percent from the week before, the Mortgage Bankers Association said.

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