Mortgage Applications

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Applications Wilt Despite Cooling Rates 

Jun 17, 2009By

Total mortgage application activity fell 15.8% in the week ending June 12 despite slightly lower average rates from a week earlier, according to a survey released today by the Mortgage Bankers Association (MBA). The volume of refinance applications plunged 23.3% in the week, pulling the refinance share of total mortgage applications down to 54.1% from 59.4% a week earlier. The slide in refinance popularity in recent surveys correlated with rising mortgage rates. But not this week.

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