Mortgage requests fall despite rates
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From Times Wires Services
Mortgage applications fell for the fourth straight week, both for refinancing and home buying, the Mortgage Bankers Assn. of America reported last week.
Its seasonally adjusted index gauging all applications fell 8.9% in the week ending Friday, from a week earlier. Refinancings fell 10% and home purchases were down 6.2%.
The average rate on a 30-year fixed mortgage dropped to 5.82% in the latest week from 5.85%, according to Freddie Mac.
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