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02opida

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02opida

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Wednesday, 01/17/2007 10:30:24 AM

Wednesday, January 17, 2007 10:30:24 AM

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NEW YORK (Reuters) — Mortgage applications fell last week, reflecting a drop in demand for home purchase loans, as interest rates climbed, an industry trade group said Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and purchasing loans, for the week ended Jan. 12 decreased 0.6% to 667.2.

However, the four-week moving average of mortgage applications rose 0.8%.

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