U.S. mortgage applications drop in latest week: MBA

World News: . []

Sold homes are seen in the southwest area of PortlandNEW YORK (Reuters) - Applications for U.S. home mortgages fell sharply last week as interest rates increased, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 9.2 percent in the week ended June 13. The MBA's seasonally adjusted index of refinancing applications dropped 12.7 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 4.7 percent. Fixed 30-year mortgage rates averaged 4. ...


Read More: http://news.yahoo.com/u-mortgage-applications-drop-latest-week-mba-110726328--sector.html

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