Mortgage applications down 9.3 percent week ending June 20 2008

CHICAGO - June 25 2008 - Applications for mortgages fell again last week, with volume down a seasonally adjusted 9.3% compared with the week before, the Mortgage Bankers Association said Wednesday. Both refinancings and applications for mortgages to purchase homes were down for the week ended June 20, even as mortgage interest rates decreased from the prior week, according to the MBA’s weekly survey. Overall, applications were down 25.3% compared with the same week in 2007.

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Mortgage applications down 9.3% last week: MBA
by Amy Hoak | MarketWatch