US mortgage applications rise as rates fall

Posted by 7Star Thursday, March 12, 2009

US mortgage applications rose for the first time in three weeks as near record low interest rates spurred demand for home refinancing and purchase loans, data from an industry group showed on Wednesday. The jump in demand came several weeks after the unveiling of the strongest government action yet to aid homeowners since the housing markets meltdown began and may help gauge what is in store this spring, the peak home-buying season.

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