Investor's Business Daily (05/01/08) P. A1
The Mortgage Bankers Association reports an 11.1-percent drop in home loan applications last week, following a 14.2-percent plunge the previous week. Purchase loan requests slipped 4.8 percent to their lowest point in five years, while refinancing applications declined 16.7 percent to their lowest level this year. Experts are not optimistic about the spring home-buying season, due to weak demand for mortgages.
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