David Kirkpatrick

October 22, 2008

Tough financial news …

Filed under: Business — Tags: , , , — David Kirkpatrick @ 3:21 pm

… all over the place, and in no surprise mortgages are at an eight-year low.

From the link:

Mortgage applications sink

An index that tracks the number of people applying for mortgages fell 16.6% last week to 408.1. That’s an eight-year low, according to the Mortgage Bankers Association.


“It’s getting harder to get a loan,” Patrick Newport, an economist at Global Insight, told Bloomberg News. “Sales will continue dropping for the rest of the year because of what’s happening in the credit markets.”

Applications to refinance existing mortgages were down 23.5% last week.

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