Refinancing

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Mortgage Applications Fall as Refinancing Slows; Activity Scratches Yearly Low 

May 28, 2008By

Slowing refinancing applications activity from borrowers — troubled or otherwise — helped push the Mortgage Bankers Association’s weekly applications survey down for the week ended May 23, as mortgage rates headed upward last week. The MBA said Wednesday morning that its composite index of purchase and refinance activity fell 4.6 percent on seasonally-adjusted basis to 593.3; last week’s total was 7.5 percent below year ago application activity.

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