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Wednesday, June 9, 2010

MSNBC Reports: Applications for mortgages hit a 13-year low

The number of customers applying for a mortgage to purchase a property fell to the lowest level in 13 years last week, a sign the housing market is struggling without government incentives.

Purchase volume declined 5.7 percent and is at its lowest point since February 1997, the Mortgage Bankers Association said Wednesday.

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