Investor's Business Daily (03/13/08) P. A2
The Mortgage Bankers Association reports a 1.9-percent drop in its applications index during the week ended March 7. With the 30-year fixed mortgage rate rising to a five-month high of 6.37 percent, refinancing activity declined. The 15-year fixed mortgage rate edged up to 5.72 percent, and observers believe the higher rates could put a damper on home-buying activity this spring.
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