Mortgage Applications Hit Low

Investor's Business Daily (07/31/08) P. A1
Providing further proof that the battered housing market has yet to hit bottom, the Mortgage Bankers Association reported a decline in demand for home loans during the week ended July 25. The 14.1-percent drop, driven by a 22.9-percent dive in refinancing requests, took application volume to its lowest point since the tail end of 2000. Demand for purchase loans was down as well.