(Source: Bloomberg)

Mortgage applications to purchase homes in the U.S. plunged last week to the lowest level in almost nine years as Americans waited for the outcome of deliberations to extend a government tax credit.

The Mortgage Bankers Association’s index of applications to buy a house dropped 12 percent in the week ended Nov. 6 to 220.9, the lowest level since Dec. 2000. The group’s refinancing gauge rose 11 percent as interest rates decreased, pushing the overall index up 3.2 percent.

Read the full article by Bob Willis at Bloomberg, “Home-Purchase Index in U.S Plunges to Lowest Level Since 2000” at Bloomberg (Nov 12, 2009).

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