Mortgage applications lower as refinancing boom ebbs - 2003-08-27
The number of applications Americans filed for mortgage loans dropped last week on a steep decrease in refinancing requests, according to an industry survey.

The Mortgage Bankers Association of America said Wednesday its seasonally adjusted gauge of overall mortgage requests fell to 638.6 for the week ended Aug. 22, down 13.3% from the previous week's 736.7.
Read the full story at USA Today

Banks: Mortgage Worries - 2003-08-27
Wondering why the S&P 500 is struggling to make any headway lately? Hang it on banks.

More immediately, investors worry about what sort of mortgage trouble the banks have gotten into. The big backup in bond yields has sent mortgage rates sharply higher: Wednesday, the Mortgage Bankers Association reported that the average rate on a 30-year mortgage last week was 6.22 percent, up sharply from the June low of 5.06 percent.
Read the full story at CNN