Mortgage applications remain at 5-year highs (AP)

The benchmark Hang Seng Index is displayed on a monitor in Hong Kong December 31, 2008. Hong Kong shares shed nearly half their value in 2008, marking their worst year in over three decades after the U.S. subprime mortgage crisis sparked a financial meltdown that plunged the world into recession.  REUTERS/Woody Wu  (CHINA)AP – Mortgage applications remained at their highest level in more than five years last week, as borrowers took advantage of attractive rates and rushed to refinance their home loans.

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