Slow But Steady Recovery Expected For the Mortgage Industry
Posted on October 29, 2009
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After a surge in mortgage applications last week in the U.S., we may expect to see a slow but steady recovery for the mortgage industry, which has been adversely affected by the recent slump in the housing market. During the week ended October 2, 2009, the Mortgage Bankers Association’s (MBA) index of applications to purchase a home or refinance a loan increased by 16% to 756.3 from 649.6 in the previous week.
Source:Slow But Steady Recovery Expected For the Mortgage Industry
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