Market Currents
Mortgage lending tumbled to a 16-year low in 2011, as the number of home loans issued slumped...
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Tuesday, September 18, 2012, 5:58 PM ETMortgage lending tumbled to a 16-year low in 2011, as the number of home loans issued slumped 10%, mortgages for purchasing a home fell ~5%, while refinancings contracted by 13% despite record low mortgage rates. A factor weighing on the market for new mortgages was the April 2010 expiration of tax incentives for first-time home buyers.
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