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Mortgage Bankers - New Home Mortgages Weak

Started by nyc10022
about 17 years ago
Posts: 9868
Member since: Aug 2008
Discussion about
caught this in one of the "Stock market down" articles... mortgages still up, but its refinancing.... http://news.yahoo.com/s/nm/20090805/bs_nm/us_usa_economy_8 "But hopes on this front also came with a caveat, and analysts said a swift rebound from the housing market's worst slump since the Great Depression is not on the horizon. Demand for mortgages to buy new homes -- rather than to refinance existing debt -- remains weak, with purchase loan requests rising just 0.9 percent last week, the [Mortgage Bankers Association] said."
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