Industry NewsMortgage

Little demand for purchase loans

Requests for refinancings account for 8 in 10 loan applications
Published on Aug 18, 2010

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by CareyBot

Applications by homeowners seeking to refinance their mortgages jumped 17.1 percent the week ending Aug. 13, while demand for purchase loans continued to sag.

Purchase loan applications were down 3.4 percent from the week before, to a level 38.6 percent below the same time last year, the Mortgage Bankers Association said in releasing the results of its Weekly Mortgage Applications Survey.

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