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Monday, September 22, 2014

Mortgage Lending Hit Six-Year High in 2013, But …

The number of mortgages made to purchase homes for owner occupants hit a six-year high last year. But don’t celebrate. Purchase loans for owner occupants were still below their 1993 level.

The Home Mortgage Disclosure Act requires mortgage lenders to disclose a range of data around every mortgage application that they take in a given year. The Federal Reserve on Monday released its summary of the previous year’s data. Here are five broad findings:

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