U.S. mortgage applications decreased last week as most home borrowing costs were...
NEW YORK - U.S. mortgage applications decreased last week as most home borrowing costs were unchanged to slightly higher, the Mortgage Bankers Association said on Wednesday.
The Washington-based group’s seasonally adjusted index on loan requests, both to buy a home and refinance one, fell 2.4% to 505.8 in the week ended July 5. This week’s results include an adjustment for the Fourth of July holiday. For the week, mortgage rates moved in step with a spike in U.S. bond yields after a stronger-than-expected increase in domestic payrolls in June.
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