The predicted post-tax credit home buying slow-down seems to be coming to pass. The week ending June 4 mortgage applications fell by 12.2% according to the Mortgage Bankers Association weekly tally. That was the fifth consecutive week of declines for this index, a 35% decline over a four week period.
Clearly, home buyers are taking a break following the April 30 deadline for signing purchase agreements for homes in order to qualify for the tax credit... (Click here to read the rest of this article about mortgage applications)
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