Atlanta Business Chronicle - Nov. 18, 2009
Recent enthusiasm for the housing market is waning. The latest reports show mortgage applications and new home construction on the decline.
In the South, new home starts dropped 33.2 percent and new housing permits were down 24.5 percent compared with October 2008.
Breaking down the mortgage activity report, the index of home purchase applications sank nearly 5 percent last week to the lowest level since November of 1997 while refinance applications eased 1 percent even as refinancing expanded its majority of mortgage activity.
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