The Real Deal Miami

Mortgage applications reach lowest of 2008

March 19, 2008 03:09PM

The seasonally adjusted index of mortgage application activity fell to its lowest this year in the week ending March 14, according to the Mortgage Bankers Association. Despite a recent drop in borrowing costs and long-term mortgage rates, the seasonally adjusted index of refinancing applications activity fell 4.6 percent last week, and the index measuring loan requests fell 1 percent.