Investor's Business Daily (04/24/08) P. A2
The Mortgage Bankers Association reports that its index of mortgage applications fell to 637.2 for the week ended April 18, and the 14.2 percent decline represents the low point for the measure so far this year. Refinancing applications tumbled 20.2 percent to a 2008 low of 2286.3, and applications for purchase loans declined 6.4 percent to 537.2. The decline in demand for mortgage applications can be tied to a jump in the 30-year fixed-rate mortgage to 6.04 percent.
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