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According to the weekly Mortgage Bankers Association data, mortgage applications were down more than 20% for the week ending November 5, 2008. Refinance business was down more than 25% from a week earlier and purchase business down nearly 14%. Below is a recap of the numbers. Seasonally Adjusted Total Mortgage Activity: Down 20.3% MBA Market Index Now: 379.9 Index One Week Earlier: 476.7 Unadjusted Basis Total Mortgage Activity: Down 21.1% One Year Ago: Down 43.4% Seasonally Adjusted Refinance Activity: Down 27.8% Index Now: 1075.4 One Week Earlier: 1489.4 Purchase Activity: Down 13.9% Index Now: 260.9 One Week Earlier: 303.1 Percentage of … (1 comments)
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