Reuters

(Reuters)

U.S. Mortgage Applications Fall in Latest Week -MBA

Politics Reuters

Applications for U.S. home mortgages fell last week as interest rates rose, an industry group said on Wednesday.

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The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 6.2% in the week ended Sept. 4.

The MBA's seasonally adjusted index of refinancing applications fell 9.9%, while the gauge of loan requests for home purchases, a leading indicator of home sales, slipped 0.9%.

Fixed 30-year mortgage rates averaged 4.10% in the week, up 2 basis points from 4.08% the previous week.

The survey covers over 75% of U.S. retail residential mortgage applications, according to MBA. 

(Reporting by Caroline Valetkevitch; Editing by Chris Reese)

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