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Joined Nov 11, 2007
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Mortgage Applications Hit Their Lowest Levels Since December 2000

“NEW YORK (Reuters) – Applications for U.S. home mortgages fell last week to their lowest level since December 2000 as both refinancing and purchase applications declined, an industry group said on Wednesday.

 

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 5.9 percent to 333.2 in the week ended April 25. That was the lowest level since December 2000, the group said.

“Purchase application volume remains weak despite other data which indicated the overall pace of economic growth is picking up…..”

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