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IN BRIEF / THE ECONOMY

Mortgage demand hits lowest level since August

December 28, 2006|From Reuters

The Mortgage Bankers Assn. said its index of U.S. mortgage application activity, which includes both refinancing and purchasing loans, for the week ended Dec. 22 fell 14.2% to 555.8, its lowest level since early August. The index stood at 647.6 in the previous week.

The association's purchase index fell 10.6% to 390.2, its lowest since late October.

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