Industry NewsMortgage

Economic worries keep lid on mortgage rates

Rates at or near record lows for fourth week in a row
Published on Nov 23, 2011

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by CareyBot

A weekly survey of lenders by Freddie Mac showed mortgage rates at or near record lows for a fourth consecutive week amid growing expectations that Europe is headed for a recession that will slow U.S. growth.

A separate survey by the Mortgage Bankers Association showed applications for purchase loans jumped to the highest level since August, but demand remained below levels seen at the same time last year.

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