Mortgage index edges down

March 28, 2004|By BLOOMBERG NEWS

An index of U.S. mortgage applications eased from an eight-month high as purchases slowed last week, an industry group said Wednesday.

The Mortgage Bankers Association's index fell 0.2 percent to 1,114.9 last week, the first decrease in six weeks. The Washington-based group's index of purchase applications declined 0.8 percent to 448.9. The measure of refinancing rose 0.1 percent to 4,988.7, the highest since the week that ended July 18, from 4,983.7.

The mortgage applications index reached 1,117.1 in the week that ended March 12, the highest since July.

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