Big News Network.com Wednesday 10th August, 2005 (UPI)
U.S. mortgage applications last week declined 0.9 percent, the Mortgage Bankers Association said Wednesday.
The group''s index of mortgage application volume declined from 752.1 to 745 for the week ending Aug. 5, less than the previous week''s decline but still 20.8 percent higher than a year ago.
The four-week moving average of U.S. mortgage applications in the week ending Aug. 5 was down 1.5 percent, the group said.
The MBA said mortgage rates were rising. The average 30-year fixed rate for the period rose to 5.91 percent to 5.83 percent.
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