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Wednesday, October 22, 2014

Falling Rates Giving Lift To Mortgage Banking Activity

Mortgage rates are falling fast and are giving a sharp lift to mortgage banking activity. The composite index surged 11.6 percent in the October 17 week to top an already sharp 5.6 percent rise in the prior week.

The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction

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