Wednesday, May 23, 2007

UPDATE 2-US mortgage applications rise but sales seen tepid

(Reuters) - NEW YORK, May 23 - U.S. mortgage applications
rose last week for the fourth time in five weeks, although
housing sales may languish as lenders make it more difficult to
get loans approved, industry executives said.




Many lenders have tightened standards as defaults and
foreclosures mount on mortgages made to borrowers with
blemished credit histories.


Read more at Reuters.com Economic News

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