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Mortgage Applications Plunge to Near 7-Month Low
Reuters
| 17 Jun 2009 | 07:08 AM ET

U.S. mortgage applications fell for a fourth consecutive week, with overall demand plunging to its lowest level in nearly seven months, data from an industry group showed on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended June 12 decreased 15.8 percent to 514.4, the lowest since the week ended Nov. 21, 2008.