The number of sales contracts plunged about 30% in May, while mortgage applications for purchase loans also fell by about 30%.

五月，房屋销售合同猛增30%，然而按揭申请同样下跌了30%。

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Yet both companies expanded their exposure to riskier loans, both through their traditional guarantee business and through the purchase of mortgage-backed securities.

可是“两房”通过传统的担保业务及购买抵押贷款支持的证券扩大了它们的高风险贷款敞口。

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Banks and financing companies began to offer subprime mortgage loans and induced low income families to purchase houses by waiving principal payments for the first few years.

银行和金融公司开始提供次级住房贷款，第一年零首付，使低收入家庭也能购买房子。

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The Mortgage Bankers Association said Wednesday that its index of mortgage applications for the week ended Dec. 19, which includes both purchase and refinance loans, hit its highest rate in five years, jumping 48.0% to 1, 245.4.

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