Wilmington News Journal (DE) (08/28/08)
The Mortgage Bankers Association reports a 0.5-percent increase in home loan applications during the week ended Aug. 22 from a more than seven-year low the previous week. Applications for purchase loans edged up 0.6 percent, while refinancing requests rose 0.3 percent. Expert note that ongoing residential price drops are enticing buyers in search of affordability, but these prospects must contend with rising mortgage rates and stricter credit standards.
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