Decade-Low Purchase Activity Despite Record 15-year
Posted on November 20, 2009
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The average 15-year fixed-rate mortgage dropped 8 basis points from last week in Freddie Mac’s latest Primary Mortgage Market Survey. It was a record low for the shorter-term mortgage based on data back to 1991. But loan applications for home purchases fell to their lowest levels in more than 10 years, according to the Mortgage Bankers Association’s lastest weekly survey.
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