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Mortgage-Application Index Falls to Lowest Level in 22 Years
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wsj.comA measure of mortgage applications fell to their lowest level in 22 years last week, another sign the U.S. housing market is coming back to Earth after a red-hot two-year stretch.
Applications fell 6.5% in the week ended June 3, the fourth straight week of declines, according to the Mortgage Bankers Association. Refinance and purchase activity fell 6% and 7%, respectively.
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