Reuters (03/05/08) ; Yoon, Al
The Mortgage Bankers Association reports a 3-percent jump in its mortgage application index during the week ended Feb. 29, marking the first weekly gain in a month. Refinancing requests climbed 4.5 percent, up for the first time since Jan. 25, while purchase applications rose 1.4 percent. Experts attribute the increase in application volume to a drop in the 30-year fixed mortgage rate to 5.98 percent from 6.27 percent the prior week.
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