Spike In Mortgage Applications
Bloomberg, a publisher of business news, reported March 7, 2007 that U.S. mortgage applications rose 7.3 percent compared to the previous week, the highest level in almost three months.
"The figures help bolster the view of Federal Reserve policy makers that the housing market is starting to stabilize and will become less of a drag on the economy. A decline in the average 30-year fixed mortgage rate to a three-month low and cheaper homes are generating buyer interest, economists said."
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