REUTERS

(REUTERS)

U.S. Mortgage Applications Fall in Latest Week

Politics Reuters

Applications for U.S. home mortgages fell last week as interest rate edged lower, 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 7.0 percent in the week ended Sept 11.

The MBA's seasonally adjusted index of refinancing applications fell 9.1 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 4.2 percent.

The week's results were adjusted for the Labor Day holiday.

Fixed 30-year mortgage rates averaged 4.09 percent in the week, down 1 basis point from the week before.

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

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(Reporting by Noel Randewich; Editing by Diane Craft)