Demand for purchase loans down 10.3%

Demand for mortgages, both purchase loans and refinancings, fell during the holiday-shortened week ending Sept. 11, the Mortgage Bankers Association said today in releasing the results of its Weekly Mortgage Applications Survey.

Even after adjusting for the Labor Day holiday, applications for purchase loans were down 10.3 percent, and requests for refinancings were down 7.4 percent. All told, mortgage loan applications fell 8.6 percent from a week earlier.

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