Mortgage Loan Index Higher for Week - 2004-02-19
An index of mortgage applications has climbed for the first time in four weeks as interest rates dipped to their lowest since July of last year, a report showed yesterday.

The Mortgage Bankers Association's index climbed 4.9 percent, to 837.1 from 797.8 the week before. The home purchase applications measure rose 2.9 percent, to 413.9 from 402.2. The index measuring applications to refinance homes rose 6.4 percent, to 3,298.3 from 3,099.1.
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The Miami Herald Money Moments Column - 2004-02-19
QUESTION: I require your advice about whether we would benefit from refinancing our home and taking cash out to pay down all of our credit cards.

All of our credit cards have 9.9 percent annual percentage rates of interest and our mortgage rate is at 6.5 percent.

Do you think it's a good idea to refinance and take cash out? -- Jelly, Silverdale, Wash.
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