Low Rates Boost Apps

Lower mortgage rates, driven by the debt ceiling negotiations and bad economic news, led to a 7.1% increase in application volume the week ended July 29, according to the Mortgage Bankers Association. But, an economist with the group pointed out, refinance volume is still 30% lower than it was at this time last year.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_402/low-rates-boost-apps-1025969-1.html

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