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US mortgage applications stabilise as loan rates slip

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Published Thu, Jan 5, 2017 · 09:50 PM

New York

APPLICATIONS for US mortgages stabilised at the end of 2016 following a recent drop as borrowing costs on home loans eased from more than two-year highs, Mortgage Bankers Association data released on Wednesday showed.

The Washington-based industry group said that its measure on requests for mortgages edged up to 358.5 in the week ended Dec 30, 0.1 per cent higher than the prior week.

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