U.S. mortgage activity edges up even as rates head higher

MarketsReuters

U.S. mortgage application activity rebounded from its lowest level since January despite interest rates on 30-year fixed-rate home loans hitting their highest levels in over 2-1/2 years, Mortgage Bankers Association data released on Wednesday showed.

The Washington-based industry group said its measure on requests for mortgages rose in the week ended Dec. 16 to 407.3, up 2.5 percent from the prior week.

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(Reporting by Richard Leong)