US mortgage applications on the slide

Columbus News.Net
Wednesday 19th November, 2008

Applications for US mortgages have gone down by volume, to a seasonally adjusted 6.2 percent.

The Market Composite Index, which measures mortgage loan application volume, fell 6.2 percent from 425 to 398.6 in the week ending Nov. 14th.

The Refinance Index increased, however, up 2.6 percent to 1,281.2.

The average interest rate for 30-year, fixed-rate mortgages decreased from 6.24 percent to 6.16 percent.

Rates for an average 15-year, fixed-rate mortgage, decreased from 5.9 percent to 5.87 percent.

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