Thursday, February 11, 2010

No help for homeowners

[A] separate report showed U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December.

A continuation of lackluster demand for home purchase loans would not bode well for the U.S. housing market, which remains highly vulnerable to setbacks and heavily reliant on government intervention.

If you're upside down on any home loan mortgages, don't expect any relief soon.

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