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New Mortgage Rules For 2011: Crystal Ball-Gazing

You may already know about the new mortgage rules in 2011, and how they will impact your life but incase you need a refresher, we thought a look at the effects of these new rules would be good.

4.6 percent drop in mortgage applications due to rate rise

According to the trade group Mortgage Bankers Association’s, mortgage applications have fallen by 4.6 percent for the week ending May 23, this is all due to the recent rate rise. Volume has also declined in the refinance market as well by