Wednesday, July 30, 2008

Mortgage Applications at Slowest Pace Since 2000

Applications for U.S. home mortgages dropped to their slowest pace since December 2000, according to the Mortgage Bankers Association. Hgher loan rates hovering near one-year highs compounded the housing market's woes,

Fixed 30-year mortgage rates averaged 6.46 percent in the week.

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