Appetite For Home Buying Hits A 3-Month High

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Once again, we see that low rates and tax credits work like a charm.

As mortgage rates edged lower, US mortgage applications in turn spiked higher last week.

They are now at a 3-month high despite rising unemployment.

Still, home inventories remain high, many sales were simply distressed, and the government’s first home buyer tax credit is set to expire in just a few months.

So you should still expect a tough slog ahead.

Read the Mortgage Bankers Association release here.

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