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Mortgage Volume at Lowest Level in 13 years
Mortgage applications to purchase homes fell to the lowest level since December 1996, decreasing 3.1 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly report.
On an unadjusted basis, the purchase index declined 12.7 percent compared to the previous week and was down 43 percent compared to the week of July 4thin 2009.
Interest rates were up slightly, though they remain very low: