Purchase, Refi Loans Slip in 2006
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| While many factors play into mortgage refinance activity, the single largest consideration for borrowers likely remains interest rates. The number of refinance loans in Massachusetts peaked in 2003 just as rates hit historically low levels. |
By Amy Wyeth
The number of residential mortgage loans secured by Massachusetts borrowers dropped dramatically last year compared to 2005 – falling by 16.8 percent for purchase mortgages and 14.8 percent for refinance loans.
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