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Housing quagmire: Is it time to remove relief?

For the growing number of struggling homeowners in this country, more help is on the way. Additional aid from the federal government will begin making its way to them next month -- one program would help qualified homeowners refinance their mortgages after seeing their property values fall below the amount they owe, and the other includes another round of funding to help the unemployed or underemployed with their payments. Read more…

Mortgage applications rise

27.10.2006 15:03

U.S. mortgage applications rose last week, while home loan interest rates crept up, an industry trade group's data showed Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended Oct. 20 increased 0.5 percent to 588.6.

Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.36 percent, up 0.03 percent from the previous week.

The MBA's seasonally adjusted purchase mortgage index rose 0.4 percent to 388.8. The purchase index is considered a timely gauge of U.S. home sales.

The group's seasonally adjusted index of refinancing applications increased 1.8 percent to 1,790.4.

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