24 Feb 10 Home Purchase Loan Demand Drops
According to Reuters, U.S. home loan applications fell for a third straight week, with demand for home purchase loans sinking to the lowest level in 13 years as inclement weather weighed, data from an industry group showed on Wednesday. The current mortgage rates remain the lowest interest rates in decades and high affordability helped the hard-hit U.S. housing market find some footing in 2009 after a three-year slump.
More key insight into the state of the housing market will emerge on Wednesday when the U.S. Commerce Department releases January new U.S. single-family home sales data.
