Industry NewsMortgage

Purchase loan demand off from ’09

30-year fixed remains under 5 percent
Published on Feb 17, 2010

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by CareyBot

Applications for purchase mortgages during the week ending Feb. 12 fell 18.4 percent from a year ago, the Mortgage Bankers Association said today in releasing the results of its Weekly Mortgage Applications Survey.

Overall loan application volume was down a seasonally adjusted 2.1 percent from the week before, with demand for purchase loans falling 4 percent week-over-week and applications for refinancings down 1.2 percent.