Mortgage applications drop - WKOW 27: Madison, WI Breaking News, Weather and Sports

Mortgage applications drop

WASHINGTON (WKOW) -- Fewer people are applying for new mortgages, according to a new weekly report released today.

The online consumer news agency reports the Mortgage Bankers Association reports the number of applicants dropped 18.9 percent from a week earlier.

The report is called the Market Composite Index, a measure of mortgage loan application volume.

It decreased 7.4 percent compared to the week in 2008.

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