Wednesday, March 09, 2005

U.S. weekly mortgage applications dip

[World News]: WASHINGTON, March 9 : U.S. mortgage applications dipped 0.7 percent in the week ended March 4 from the week earlier, the Mortgage Bankers Association reported Wednesday.

The MBA said the market composite index, which measures mortgage loan application volume, reached 704.8 in the week ended March 4.The Washington-based group also reported 30-year fixed-rate mortgage interest rates decreased on average to 5.69 percent from 5.

74 percent, while the 15-year rate fell to 5.25 percent from 5.27 percent.

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